March nonfarm payrolls rose by 178,000, well above market expectations near 60,000. The unemployment rate fell to 4.3% from 4.4%, while wage growth stayed softer at 0.2% month on month and 3.5% year on year. The key takeaway is clear: the U.S. labor market still looks resilient enough to support the dollar.
On the H1 chart, the macro surprise lines up with the technical setup. EUR/USD rejected the 1.1541–1.1548 resistance zone right after the release and slipped back toward the 1.1529 breakdown area and the 1.1523 extension zone. That keeps the short-term tone negative.
As long as the pair remains below 1.1536, and especially below 1.1541, sellers keep the near-term edge. A sustained break below 1.1523 would open the way toward 1.1517. To reduce the immediate downside pressure, EUR/USD needs to recover 1.1536 first and then close back above 1.1541.
For now, the post-NFP message is simple: stronger payrolls keep the dollar supported, and EUR/USD remains under pressure unless price quickly reclaims the broken resistance zone.