Forex: EUR/USD drops to 1.4910 low post-NFP

04 December 2009 @ 09:17 am EDT

FXstreet.com (Barcelona) - Euro has plunged amid widespread Dollar strength after buoyant NFP report, the pair has lost about 170 pips right after the release of NFP data, dropping from levels around 1.5080 to 1.4910 low.

At this moment, next support levels, below 1.4910, lie at 1.4890, and below here, 1.4830/40 (Nov 27 low) and 1.4800/05 (Nov 20/17 low). On the upside, resistance levels lie at 1.4990/00 and above here, 1.5030 (previous lows) and 1.5085/90 session high)

U.S. non-farm payrolls have declined by 11,000 in November, beating market consensus of a decline by about 111.000; the best non-farm payrolls reading since December 2007. Unemployment rate has declined to 10.0% from 10.2% in October

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