EUR/USD fades a knee-jerk bullish spike but holds above 1.1200 mark post-NFP

   •  US economy added 196K new jobs in March; unemployment rate holds steady.
   •  Weaker wage growth data offset positive readings and failed to impress the USD bulls.

The EUR/USD pair held on to its mildly positive tone, albeit remained capped below weekly tops following the release of mixed US monthly jobs report.

The US Dollar remained depressed through the early North-American session and failed to attract any buying interest after the headline NFP came in to show that the economy added 196K new jobs during March. This marked a solid rebound from the previous month's dismal reading of 20K and was also better than consensus estimates pointing to an addition of 180K jobs.

Meanwhile, the unemployment rate held steady at 3.8% during the reported month but the positive readings were largely offset by weaker average hourly earnings data, coming in to show a 0.1% m/m growth as compared to 0.3% expected and thus did little to impress the USD bulls. 

Meanwhile, a goodish pickup in the US Treasury bond yields helped limit any meaningful USD weakness and now seemed to be the only factor that might keep a lid on any runaway rally for the major. With today's US macro data out of the way, market participants now look forward to any fresh US-China trade-related headlines for some meaningful trading impetus.

Technical levels to watch