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EUR/USD recovers ground after US ADP data

FXStreet (Córdoba) - EUR/USD staged a mild bounce from lows and is back at the 1.2500 area, after data showed the US private sector added more jobs than expected in October.

ADP reported private employment rose by 230,000 last month following 225,000 in September and beating expectations of 220,000. Upbeat employment data lifted risk appetite, ahead of Friday’s Government report. Consensus is pointing to a 231,000 job gain versus 248,000 the previous month.

EUR/USD managed to rise above 1.2500 and hit a session high of 1.2505 so far. At time of writing, the pair is trading around 1.25, still 0.35% below its opening price.

EUR/USD levels to watch

As for technical levels, EUR/USD could find immediate supports at 1.2466 (Nov 5 low), 1.2439 (2014 low Nov 3) and 1.2400 (psychological level). On the other hand, resistances are seen at 1.2566 (Nov 5 high), 1.2600 (psychological level/10-day SMA) and 1.2616 (Oct 31 high).

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