5 Jun 2015
EUR/USD keeps losses above 1.1200
FXStreet (Mumbai) - The shared currency remains undermined versus the American dollar in the Asian session, keeping EUR/USD in red above 1.12 handle. The major extends losses as the USD bulls jumped back in bids on Thursday on the back of the better-than-expected jobless claims report.
EUR/USD rises from 1.1194
The EUR/USD pair trades -0.24% at 1.1212, retreating from 1.1194 session lows. The EUR/USD pair remains subdued as traders prefer to hold the US dollar following the recent positive updates on US fundamentals.
The US Department of Labor surprised the markets on Thursday, revealing that the initial jobless claims fell to a seasonally adjusted 276,000 in the week ended May 30. The figure was expected to hit 278,000.
Also, the greenback is expected to strengthen heading into the most influential data of this week, the US non-farm payrolls, which continues to weigh on the main currency pair.
In the day ahead, markets turn their focus on German factory orders while they closely eye the American non-farm payrolls data today. The US economy is projected to add 227,000 new non-farm payrolls to the economy in May.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1284 (June 3 High) levels, above which gains could be extended to 1.1328 (May 19 High) levels. On the flip side, support is seen at 1.1194 (Today’s Low) below which it could extend losses to 1.1177 (May 8 Low) levels.
EUR/USD rises from 1.1194
The EUR/USD pair trades -0.24% at 1.1212, retreating from 1.1194 session lows. The EUR/USD pair remains subdued as traders prefer to hold the US dollar following the recent positive updates on US fundamentals.
The US Department of Labor surprised the markets on Thursday, revealing that the initial jobless claims fell to a seasonally adjusted 276,000 in the week ended May 30. The figure was expected to hit 278,000.
Also, the greenback is expected to strengthen heading into the most influential data of this week, the US non-farm payrolls, which continues to weigh on the main currency pair.
In the day ahead, markets turn their focus on German factory orders while they closely eye the American non-farm payrolls data today. The US economy is projected to add 227,000 new non-farm payrolls to the economy in May.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1284 (June 3 High) levels, above which gains could be extended to 1.1328 (May 19 High) levels. On the flip side, support is seen at 1.1194 (Today’s Low) below which it could extend losses to 1.1177 (May 8 Low) levels.