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Sep 11, 2014
EUR/USD pushes higher after US jobless claims
FXStreet (Córdoba) - EUR/USD inched higher and posted a fresh high for the day at the beginning of the New York session after data showed US initial jobless claims unexpectedly rose last week.
The number of people applying for jobless benefits rose 11,000 to 315,000 in the week ended Sept 6, hitting the highest level since late June. The dollar weakened on the back of the data, sending EUR/USD to a high of 1.2949 in recent dealings. At time of writing, EUR/USD is trading at 1.2945, 0.22% above its opening price.
Divergent monetary policies in the Eurozone and US have driven EUR/USD to a 14-month low of 1.2859 this week, from where the pair has staged a minor recovery, still unable that has been capped by the 1.2965 area so far.
EUR/USD technical outlook
"Still in the consolidation pattern above 1.2858, so allow a tighter test f 1.2995 resistance area before drowning towards 1.2750 major support zone", said Stoyan Mihaylov, analyst at Deltastock.
The number of people applying for jobless benefits rose 11,000 to 315,000 in the week ended Sept 6, hitting the highest level since late June. The dollar weakened on the back of the data, sending EUR/USD to a high of 1.2949 in recent dealings. At time of writing, EUR/USD is trading at 1.2945, 0.22% above its opening price.
Divergent monetary policies in the Eurozone and US have driven EUR/USD to a 14-month low of 1.2859 this week, from where the pair has staged a minor recovery, still unable that has been capped by the 1.2965 area so far.
EUR/USD technical outlook
"Still in the consolidation pattern above 1.2858, so allow a tighter test f 1.2995 resistance area before drowning towards 1.2750 major support zone", said Stoyan Mihaylov, analyst at Deltastock.