Euro rises to 78.6% retracement level
And then a pause. Action is on disappointing US employment figures for December. Unemployment rate came in at 5%. November was 4.7%, and a rise to 4.8% was expected. This was ultimately more surprising than the poor payroll number, which printed at +18k, less than the consensus expectations (50k, but ranged from 30k to 70k). Last month was revised up 21k to 115k 3 month average is still 97k. Of course all these numbers will probably be revised.
For now, that 78.6% level is holding.
