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EUR/USD got slight support from better German Labor data

FXStreet (Moscow) - EUR/USD is trying to regain part of the losses helped with German Labor data; it’s trading at 1.2580.

The pair stays under pressure as USD regained popularity again. Even better than expected German Unemployment Change (-22K vs +5K forecast) only slightly supported the pair – it rose to 1.2582 from 3-week low at 1.2554. There are rumors in the market that all regional German inflation data will come out weaker than expected, and it may become additional factor of pressure on the euro as the day goes. In case the slide down resumes, next target to the downside may be located at 1.2537 pivot point.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2684, with support below at 1.2584, 1.2537 and 1.2443, with resistance above at 1.2725, 1.2819 and 1.2866. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.2705 and the daily 20EMA flat at 1.2719. Hourly RSI is bearish at 19.

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