Forex: EUR/USD rockets to the 1.2330 zone
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EUR/USD
FXstreet.com (Barcelona) - The bloc currency is gathering pace after the release of US data, climbing from the comfort zone at 1.2270/80 to levels shy of 1.2330, printing fresh session highs at the same time.
Weekly report on labor market came in softer than estimates, with Initial Claims rising to 366K from 364K in the previous week. July Housing Starts have also came in lower at 746K vs. 754K in June, while Building Permits jumped to 812K vs. 755K.
As of writing, EURUSD is up 0.28% at 1.2318 and a break above 1.2344 (high Aug.15) would expose 1.2388 (high Aug.9) then 1.2402 (high Aug.8) and 1.2418 (Upper Bollinger).
On the flip side, support levels lie at 1.2242 (low Aug.10) followed by 1.2195 (61.8% of 1.2042-1.2444) then 1.2167 (low Aug.3) and 1.2133 (low Aug.2).
Weekly report on labor market came in softer than estimates, with Initial Claims rising to 366K from 364K in the previous week. July Housing Starts have also came in lower at 746K vs. 754K in June, while Building Permits jumped to 812K vs. 755K.
As of writing, EURUSD is up 0.28% at 1.2318 and a break above 1.2344 (high Aug.15) would expose 1.2388 (high Aug.9) then 1.2402 (high Aug.8) and 1.2418 (Upper Bollinger).
On the flip side, support levels lie at 1.2242 (low Aug.10) followed by 1.2195 (61.8% of 1.2042-1.2444) then 1.2167 (low Aug.3) and 1.2133 (low Aug.2).
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