26 Mar 2015
Drop in US jobless claims pushes EUR/USD below 1.10
FXStreet (Mumbai) - The EUR/USD pair fell below 1.10 levels after the labor department data in the US showed the initial jobless claims in the last week fell to a five-week low.
USD gains as Treasury yields rise
The US dollar gained as an upbeat weekly jobless claims data pushed the 10-year yields higher to 1.93%; up one basis points. The yields strengthened as the initial jobless claims in the last week fell to 282K, while the four week moving average of the claims fell to 297K.
Consequently, the US dollar made a comeback, pushing the EUR/USD lower to 1.0971 levels from the pre-data level of 1.1010. The pair could dip further in case the US services PMI manages to surpass market expectations.
EUR/USD Technical Levels
The immediate support is seen at 1.0960, under which losses could be extended to 1.09 levels. On the flip side, a break above 1.10, could see the pair re-test the daily high at 1.1046.
USD gains as Treasury yields rise
The US dollar gained as an upbeat weekly jobless claims data pushed the 10-year yields higher to 1.93%; up one basis points. The yields strengthened as the initial jobless claims in the last week fell to 282K, while the four week moving average of the claims fell to 297K.
Consequently, the US dollar made a comeback, pushing the EUR/USD lower to 1.0971 levels from the pre-data level of 1.1010. The pair could dip further in case the US services PMI manages to surpass market expectations.
EUR/USD Technical Levels
The immediate support is seen at 1.0960, under which losses could be extended to 1.09 levels. On the flip side, a break above 1.10, could see the pair re-test the daily high at 1.1046.