EUR/USD Stays Near Lows after US Jobless Claims

EUR/USD Stays Near Lows after US Jobless Claims

5 May 2016, 14:43
Roberto Jacobs
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EUR/USD Stays Near Lows after US Jobless Claims

EUR/USD remained steady near daily lows after data showed US jobless claims rose for the second straight week.

US initial jobless claims climbed 17,000 to 274,000 in the week ended Apr 29, the Labor Department said Thursday, above the 260,000 expected. However, claims remained near historically low levels, which is consistent with a strengthening job market.

EUR/USD barely reacted to data and it was last trading at 1.1430, down 0.47% on the day, with a low set at 1.1417 during the European session.

EUR/USD levels to watch


In terms of technical levels, immediate supports are seen at 1.1417 (May 5 low), 1.1385 (10-day SMA), 1.1355/46 (20-day SMA/Apr 29 low) and 1.1297 (Apr 29 low). On the other hand, resistances line up at 1.1529 (May 4 high), 1.1615/20 (May 2 & Aug 25 2015 highs), 1.1638 (100-week SMA) and 1.1712 (Aug 24 2015 high).


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