4 Jun 2015
EUR/USD break below 1.1300 on US data
FXStreet (Edinburgh) - The shared currency is now intensifying its correction from session tops, dragging EUR/USD back below the 1.1300 mark.
EUR/USD shed gains post-US data
The pair is surrendering part of the initial gains after US Initial Claims surprised investors to the upside today, dropping to 276K in the week ended on May 29. Further releases showed Unit Labor Costs rising above estimates 6.7% during the first quarter, while Nonfarm Productivity contracted 3.1% during the same period.
On the Greek front, Eurogroup’s J.Dijsselbloem said a Greek alternative to the recent proposals should be expected in the next days, while he also added that differences between both negotiating teams remain large.
EUR/USD levels to watch
The pair is gaining 0.20% at 1.1297 with the next hurdle at 1.1383 (high May 13) followed by 1.1400 (psychological level) and finally 1.14444 (high May 14). On the downside, a break below 1.1230 (low Jun.4) would open the door to 1.1079 (low Jun.3) and then 1.0918 (low Jun.2).
EUR/USD shed gains post-US data
The pair is surrendering part of the initial gains after US Initial Claims surprised investors to the upside today, dropping to 276K in the week ended on May 29. Further releases showed Unit Labor Costs rising above estimates 6.7% during the first quarter, while Nonfarm Productivity contracted 3.1% during the same period.
On the Greek front, Eurogroup’s J.Dijsselbloem said a Greek alternative to the recent proposals should be expected in the next days, while he also added that differences between both negotiating teams remain large.
EUR/USD levels to watch
The pair is gaining 0.20% at 1.1297 with the next hurdle at 1.1383 (high May 13) followed by 1.1400 (psychological level) and finally 1.14444 (high May 14). On the downside, a break below 1.1230 (low Jun.4) would open the door to 1.1079 (low Jun.3) and then 1.0918 (low Jun.2).