EUR/USD Edges Lower After US GDP, Jobless Claims

EUR/USD Edges Lower After US GDP, Jobless Claims

28 April 2016, 16:07
Roberto Jacobs
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EUR/USD Edges Lower After US GDP, Jobless Claims

EUR/USD edged slightly lower but remained in positive ground for the day following a string of disappointing US data.

US GDP slowed to 0.5% in the first quarter according to the advance estimate, missing expectations of 0.7% grow. Meanwhile, initial jobless claims rose more than expected to 257K in the week ended Apr 22.

Despite negative readings, the dollar managed to trim some of its recent losses and dragged EUR/USD to 1.1335 from 1.1360 pre data. At time of writing, the pair is trading at 1.1342, still up 0.17% on the day.

EUR/USD levels to watch

As for technical levels, next resistances are seen at 1.1394 (Apr 21 high) and 1.1464 (Apr 14 high). On the other hand, supports could be found at 1.1274 (Apr 27 low), 1.1214 (Apr 25 low), 1.1198 (50-day SMA) and 1.1144 (Mar 24 low).


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