EUR/USD breaks above 100-day SMA , aims key 1.3446 post-weak US jobs data

Weaker-than-expected US jobs data helped the EUR/USD break above its 100-day SMA and the pair is now heading toward key long-term resistance of 1.3446 (R1 on daily chart).

At 2:20 GMT, the pair was at 1.3346, after rising as high as 1.3365, its highest since Nov 26. At the day's high, the pair was 1.2 percent up from its Thursday's close.

On the way up, the pair has two intermediate levels 1.3562 (R2), 1.3636 (R3) to clear before testing another important level at 1.3697, a successful break of which would mean an end for the pair's downward channel from early November.

Labor department data showed US employers added only 39,000 jobs in November, much below market expectations of 146,000 and previous month's level of 172,000. The unemployment rate jumped to 9.8 percent from 9.6 in October.

Earlier in the day, euro-zone data showed its manufacturing activity expanded more than expected in November while October retail sales also climbed higher than expected.