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EUR/USD remains sub-1.06 on ADP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The shared currency keeps the red figures vs. the dollar today, with EUR/USD navigating the 1.0590/85 band so far.

    EUR/USD firmer post-ADP

    The pair kept the composure after the ADP report has informed that the US Private Sector has created 217K jobs during November, surpassing previous estimates at 190K and bettering October’s 196K (revised up from 182K).

    In the meantime, prospects of further easing by the ECB on Thursday remain the exclusive drag of EUR today, mainly following the lacklustre results from EMU’s CPI during November.

    EUR/USD levels to watch

    As of writing the pair is losing 0.37% at 1.0592 facing the next support at 1.0519 (low Apr.13) en route to 1.0500 (psychological level) and then 1.0456 (2015 low Mar.16). On the other hand, a break above 1.0805 (monthly lows May and July) would expose 1.0829 (high Nov.12) and then 1.1013 (55-day sma).
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