EUR/USD dips to fresh lows post-Payrolls

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Edinburgh) - The shared currency is accelerating the intraday decline on Thursday, pushing the EUR/USD to test fresh session lows.



EUR/USD weaker after NFP



The selling interest around the EUR is intensifying following June’s US Payrolls, where the US economy added 288K jobs vs. 212K forecasted and up from May’s 224K (revised from 217K). Further data showed that the unemployment rate ticked lower to 6.1% from 6.3% previous. “Upward momentum is waning rapidly as EUR traded at a lower range than expected. Expect another attempt towards yesterday’s high near 1.3680 but unless there is a break above the strong resistant at 1.3700/05, this should lead to a pullback towards 1.3630”, suggested Quek Ser Leang, Market Strategist at UOB Group.



EUR/USD relevant levels



At the moment the pair is losing 0.23% at 1.3626 with the next support at 1.3610 (low Jun.27) and then 1.3605 (21-d MA). On the upside, a breakout of 1.3675 (200-d MA) would target 1.3683 (high Jul.2) en route to 1.3701 (high Jul.1).



You May Also Like

Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: How Far can the Dollar Go in 2014?

  2. Forex News

    US session recap: USD index and stocks rally for record highs

  3. Forex News

    US Dollar Targets Fresh Highs versus Euro, but What Could Change?

  4. Forex News

    A calm and holy night or a snowstorm of volatility? – ING

  5. Forex News

    Euro Struggles Ahead of Greek Election- USD/CAD Carves Lower Highs

Trading Center