Choppy trading after mixed but overall solid US jobs data; bears remain intact and on track for the biggest weekly fall in three months

The Euro retested session low at 1.0948 after US jobs data before bouncing some 25 pips but remained in choppy mode and lacking near-term direction as markets are digesting the figures.
US non-farm payrolls beat forecast (Jan 225K  vs 160K f/c) but unemployment rose to 3.6% from 3.5% (Dec / f/c) and average earnings also fell below expectations (Jan m/m 0.2% vs 0.3% f/c) that partially offset positive impact from upbeat NFP.
Friday’s action is still in red, helped by negative daily studies, however, impression from US jobs data might not be as impressive as markets anticipated and may prompt investors to start collecting profits from dollar’s strong rally this week.
Such scenario would put euro bears on hold, but overall bias is expected to remain bearish on weekly close below 1.10 handle, as the pair is on track for the biggest weekly loss since the first week of November and massive bearish weekly candle weighs heavily.
Only firm break above 1.10 barrier would generate stronger bullish signal and likely spark correction.

Res: 1.0984; 1.1000; 1.1022; 1.1039
Sup: 1.0948; 1.0928; 1.0878; 1.0863