Weaker at 158K vs 185K estimate
The ADP employment report came in weaker than the estimates at 158k vs 185K. That has led to a move to new session highs in the EURUSD. The pair has already been supported in trading today. Yields are shooting higher in Europe as confidence about a continued recovery idea takes hold. The bad is the stocks are lower in Europe today. Nevertheless, the EUR is supported and is the strongest currency of the majors today.
Technically, the EURUSD pair has moved back above the 100 hour MA (and is moving away) at 1.1367 (blue line in the chart above). That is now support on dips for the pair. Look for buyers to lean against that level. On the topside, the pair has reached the 61.8% of the corrective move lower at 1.13938. Getting back above 1.1400 opens the door for an eventual run to the highs from last Friday and Monday at 1.1426 and 1.1448.