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Forex: EUR/USD retreats from highs above 1.3030

FXstreet.com (Barcelona) - The shared currency keeps pushing higher on Friday, hovering over 1.3030 as buying interest remains intact. Recall that poor data from US Payrolls during March (88K vs. 268K) boosted the demand for EUR, pushing the cross from the 1.2900s.

Christopher Vecchio, Currency Analyst at DailyFX, commented that although the unemployment rate is falling in its several categories, the participation rate fell to the lowest level in 30 years: 63.3%. “Americans are leaving the labour market en masse, essentially giving up on their personal employment prospects after what has been a long period of despair since the global financial crisis started in late-2007. Accordingly, it is evident that the US labour market can no longer be viewed as improving, but instead, just barely treading water”, concluded the expert.

At the moment, the pair is up 0.62% at 1.3016 facing the next resistance at 1.3050 (high Mar.25) then 1.3107 (high Mar.15) and finally 1.3110 (38.2% of Feb.-Apr. slide)
On the flip side, a breach of 1.2893 (MA200d) would then target 1.2849 (MA10d) en route to 1.2747 (low Apr.4).

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