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EUR/USD reverses gains as US jobless claims hit 4-decade low
FXStreet (Córdoba) – EUR/USD pulled back from fresh weekly highs following the release of better-than-expected US initial jobless claims data, which helped the dollar to recover part of the lost ground versus major competitors.
US initial jobless claims hit 4-decade low
US initial jobless claims dropped to 255,000 in the week ending July 18, hitting its lowest level since 1973. Separated data showed Chicago National activity index rose 0.08% in June versus -5.0% expected.
Strong employment data gave the greenback a boost, with EUR/USD backing away from a peak of 1.1017 to the 1.0960 area in recent dealings. At time of writing, EUR/USD is trading at 1.0965, still up 0.36% on the day.
EUR/USD technical levels
As for technical levels, EUR/USD could find immediate supports at 1.0921 (Jul 23 low), 1.0900 (psychological level) and 1.0869 (Jul 22 low). On the flip side, resistances are seen at 1.1017 (Jul 23 high), 1.1035 (Jul 15 high) and 1.1082 (Jul 14 high).
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EUR/USD reverses gains as US jobless claims hit 4-decade low
Source: FXStreet
