The U.S. dollar pared this week’s losses versus the euro as employers cut less-than-expected jobs in the country, adding optimism to the world’s wealthiest economy.

The dollar reached a seven-week high versus the yen and gained versus most of the 16 main traded currencies as a report in the U.S. indicated that fewer jobs were cut in July than in June, suggesting that employment conditions are improving in the North America, which reflected positively for the greenback outlook, making the U.S. currency to end the first week gaining versus the euro, after 2 consecutive weeks of losses.

EUR/USD traded at 1.4160 as of 18:56 GMT after being traded at 1.4381 hours earlier.

If you want to comment on the U.S. dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.

The Brazilian real, currency which had its rally halted yesterday as negative reports pushed stocks and commodities down around the world, climbed again today as U.S. employment data came better-than-expected.

The Brazilian currency was one of those who benefited today from a U.S. employment report which indicated less job cuts in the nation for the month of July in comparison with June, renewing optimism and increasing risk appetite among traders. Several currency strategists suggest that the Brazilian real is likely to gain further, remaining the best performing currency this year.

USD/BRL traded at 1.8260 as of 19:18 GMT from a previous rate of 1.8391.

If you want to comment on the Brazilian real’s recent action or have any questions regarding this currency, please, feel free to reply below.

The 100 hour moving average comes in at 1.4194.   This level will be watched on the downside.

Although 1.4194 level is important, a more important support level for me comes in at the 1.4183 level.  This level corresponds with the  midpoint of the move down from the 2008 high at 1.6037 and the low at 1.2329.

The EURUSD moved and closed back above this level on Monday.  A move away from this level to the upside is needed to confirm a more favorable bullish bias for the EURUSD.   The high from early June at 1.4338 is the next upside target if this key level holds.

Shorter term, the EURUSD has some support at the 1.4219 to 1.4224 level.  The market closed at 1.4219 and the 61..8% retracement of the days range comes in at the level.  Look to see some support against this level today.  A move below will likely lead to some selling pressure.