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As traders reacted to today's US labor market data, the greenback traded broadly higher on Friday. At the time of writing, the EURUSD pair was seen at around 1.1050.
According to a recent report, the US economy added 431,000 jobs in March, below the 490,000 expected. However, the February number was revised upward to 750,000 from 678,000.
At the same time, the unemployment rate improved to 3.6%, down from 3.8% previously.
Finally, the yearly wage growth improved to 5.6% (against 5.5% expected), while the monthly change met estimates at 0.4%.
After the data, the CME Group FedWatch Tool showed a 72.5% probability of a 50 bps hike in May, compared to 71% earlier in the day.
The support is seen at the 1.10 level, and if not held, the pair might decline toward 1.0950. Alternatively, the resistance remains at the key 1.12 level. If the euro jumps above it, the medium-term outlook could change to bullish.
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