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7 Mar 2014
EUR/USD eases from 28-month high after NFP
FXStreet (Córdoba) - The rally of the euro versus the dollar was tempered Friday after US nonfarm payrolls came in stronger-than-expected, sending the EUR/USD back to opening levels.
Data showed US economy added 175,000 new jobs in February, beating expectations of 150,000 and boosting optimism over the state of the US economy. The EUR/USD, that had reached a fresh 28-month high of 1.3914, retraced gains weighed by data and returned to the 1.3850 zone before finding support.
At time of writing, the EUR/USD is trading at the 1.3880 zone, still 0.2% above its opening price, having rallied nearly 200 pips within the last 48 hours, propelled by ECB decision to leave policy unchanged.
EUR/USD technical levels
As for technical levels, there is no much resistance until 1.4000 (psychological level) followed by 1.4172 (high Oct 31 2011) and then 1.4200 (high Oct 30 2011). On the flip side, supports could be found at 1.3852 (Mar 7 low), 1.3800 (psychological level) and 1.3760 (10-day SMA).
Data showed US economy added 175,000 new jobs in February, beating expectations of 150,000 and boosting optimism over the state of the US economy. The EUR/USD, that had reached a fresh 28-month high of 1.3914, retraced gains weighed by data and returned to the 1.3850 zone before finding support.
At time of writing, the EUR/USD is trading at the 1.3880 zone, still 0.2% above its opening price, having rallied nearly 200 pips within the last 48 hours, propelled by ECB decision to leave policy unchanged.
EUR/USD technical levels
As for technical levels, there is no much resistance until 1.4000 (psychological level) followed by 1.4172 (high Oct 31 2011) and then 1.4200 (high Oct 30 2011). On the flip side, supports could be found at 1.3852 (Mar 7 low), 1.3800 (psychological level) and 1.3760 (10-day SMA).