EUR/USD falls to 1.3370 after US Data

By FXstreet.com | July 31, 2014 AAA

FXStreet (San Francisco) - The Euro broke below the 1.3380 support against the US dollar and now it is testing the 1.3370 following US jobless claims and employment cost index data.



Employment cost index advances 0.7% in Q2; biggest rise since Q2 2011; on the other hand, initial jobless claims rose to 302K new claims in the Jul 25 week while previous week was revised down to 279K from 284K.



Currently, EUR/USD is trading at 1.3395, down 0.10% on the day, having posted a daily high at 1.3416 and low at 1.3367. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.



EUR/USD sentiment



"So far we've been down to 1.3372, near the 1.3368 lows posted a bit over 24 hours ago," comments Jamie Coleman from FXBeat. "US yields continue to rise, up another 5 bp this morning to 2.605%. 1.3350 barriers are the next hurdle for EUR/USD."



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD upside remains corrective – Commerzbank
    Forex News

    GBP/USD upside remains corrective – Commerzbank

  2. USD/CHF shows recovery attempts, as it bottomed at 0.9340
    Forex News

    USD/CHF shows recovery attempts, as it bottomed at 0.9340

  3. EUR/USD Daily Outlook - September 19
    Investing

    EUR/USD Daily Outlook - September 19

  4. SEB:  More EUR/USD buying seen above 1.2943 - eFXnews
    Forex News

    SEB: More EUR/USD buying seen above 1.2943 - eFXnews

  5. USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI
    Forex News

    USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI

Trading Center