EUR/USD At Two Month Low After US Jobs Data

On Friday Euro/Dollar decreased with 125 pips. The European currency appreciated from 1.2947 to 1.2820 on Friday, matching the negative money flow sentiment at bellow -21%, closing the week at 1.2835. This morning the Euro extended losses even further, reaching down to 1.2913.
On the 1 hour chart quotes are testing the lower limit of the trading range, while on the 3 hour chart the upward channel is still on hold. Break above the nearest resistance and Friday's top at 1.2947 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.2913, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2700.