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Forex: EUR/USD testing intraday lows at 1.3099/05

FXstreet.com (Barcelona) - The EUR/USD has certainly shifted course during US trading Thursday, descending into negative territory after a quick 30-pip drop. At this juncture, the pair is operating at session lows, quickly establishing fresh figures of this nature at the time of writing. Presently the cross is trading at 1.3099/03, fortified by the 1.3100 barrier.

According to the ICN.com Technical Analyst Team, “The EUR/USD is trying to move to the downside and is stabilize above 1.3115, keeping the possibility of positivity. Meanwhile, the stochastic is showing a negative crossover which worries us and we want to see how the pair will react at 1.3115 levels.”

Briefing the technical schematics, the cross is now facing a -0.35% drop. The Mataf.net analyst team identifies short-term supports for the EUR/USD at 1.3091, then 1.3024, and finally 1.2972. Conversely, the pair is slated to face resistance at 1.3210, then 1.3262, and ultimately 1.3329.

In the United States, Initial Jobless Claims (May 3) came in at 323K, against expectations of 335K. Moreover, Continuing Jobless Claims (April 27) yielded a figure of 3.005M, vs. a projection of 3.020M.

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