EUR/USD decides for the upside; fresh 2-week highs

By FXstreet.com | June 06, 2014 AAA

FXStreet (San Francisco) - The Euro is trading higher against the US Dollar following the US employment report in May. The EUR/USD jumped 50 pips in the last hour to trade at highs since May 22 at 1.3670.



Currently, EUR/USD is trading at 1.3672, up 0.09% on the day, having posted a daily high at 1.3678 and low at 1.3621. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.



US created 217K new norfarm payrolls in May, unemployment rate remains at 6.3%; while the participation rate was unchanged at 62.8%.



EUR/USD levels



The next resistance in EUR/USD is located at 1.3688 (high May 22). On the downside, a breach of 1.3503 (low Jun.5) would open the door to 1.3482 (low Feb.6) and then 1.3477 (2014 low Feb.3).



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