EUR/USD Hits Daily Highs After Disappointing ADP Report
EUR/USD moved higher and printed fresh daily highs as the dollar weakened following the release of below expectations US employment data.
According
to ADP report, US private sector created 156,000 jobs in April, below
the 196,000 expected, while March’s reading was downwardly revised by
6,000.
EUR/USD advanced to a daily peak of 1.1529, from around
1.1500 before the data, but the impact was light as investors attention
turns to the Government nonfarm payrolls report due on Friday. At time
of writing, EUR/USD was trading at 1.1522, up 0.23% on the day.
EUR/USD technical levels
As
for technical levels, immediate supports could be found at 1.1447 (May 2
low), 1.1354/46 (20-day SMA/Apr 29 low) and 1.1297 (Apr 29 low). On the
flip side, resistances are seen at 1.1615/20 (May 2 & Aug 25 2015
highs), 1.1638 (100-week SMA) and 1.1712 (Aug 24 2015 high).
