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19 Mar 2015
EUR/USD unresponsive to the US weekly jobless claims
FXStreet (Mumbai) - The EUR/USD pair remained largely unchanged after the data in the US showed the initial jobless claims in the last week rose less than expected.
Sustains above the hourly 200-MA
The pair managed to sustain above the hourly 200-MA located at 1.0646. A minor sell-off to 1.0639 was seen after the slightly upbeat weekly initial jobless claims data in the US. However, the pair quickly recovered to 1.0660 levels. Moreover, the rise in the continuing claims along with a rise in the US current account deficit in Q4 could have capped gains in the US dollar.
The initial jobless claims in the last week stood at 291K, slightly lower than the forecast of 292K. The previous week’s figure stands revised at 290K from 289K. Meanwhile, the current account deficit widened to USD 113.5 billion in Q4.
EUR/USD Technical Levels
At the time of writing, the pair traded at 1.0671. The immediate resistance is seen at 1.0673 (hourly 50-MA), above which gains could be extended to 1.0702 levels. On the other hand, support is seen at 1.0646 (hourly 200-MA) and 1.0610 (hourly 100-MA).
Sustains above the hourly 200-MA
The pair managed to sustain above the hourly 200-MA located at 1.0646. A minor sell-off to 1.0639 was seen after the slightly upbeat weekly initial jobless claims data in the US. However, the pair quickly recovered to 1.0660 levels. Moreover, the rise in the continuing claims along with a rise in the US current account deficit in Q4 could have capped gains in the US dollar.
The initial jobless claims in the last week stood at 291K, slightly lower than the forecast of 292K. The previous week’s figure stands revised at 290K from 289K. Meanwhile, the current account deficit widened to USD 113.5 billion in Q4.
EUR/USD Technical Levels
At the time of writing, the pair traded at 1.0671. The immediate resistance is seen at 1.0673 (hourly 50-MA), above which gains could be extended to 1.0702 levels. On the other hand, support is seen at 1.0646 (hourly 200-MA) and 1.0610 (hourly 100-MA).