EUR/USD rejects a new high during the Asian session

On Friday afternoon, as the latest US jobs numbers hit the screens the EUR/USD reacted positively to the news; that payrolls missed estimates (not by that much though) and the underlying rate of unemployment rose slightly (from 4% to 4.1%). Average annualised hourly wages also edged back from a run rate of 4.1% to 4%. This all helped to push the dollar lower and so the EUR/USD hit its best level since November 6 last year. The Euro reached 1.0889, but it fell short of the next technical target (outlined here on Thursday) at 1.0961. That represents a 76.4% correction of the 1.1214- 1.0141 fall since September 25 last year, to Feb 3 this year. The EUR/USD later dropped back to 1.0826, before closing out the week at 1.0833. The price action on the Asian opening saw the dollar hit once again and that allowed the Euro to make headway. However, as with the GBP/USD, that rebound has since stalled and the Euro has fallen back again. Earlier it reached 1.0871. It has since dropped back to 1.0828. The EUR/USD is currently trading back at its Friday closing levels, around 1.0833