© Reuters. EUR/USD drop following the stats US
Investing.com – statistics to US better-than-expected published this afternoon have supported the Dollar, and mechanically weighed on the EUR/USD pair.
The inscriptions weekly unemployment are displayed at 196k, the lowest since 1969, against 211k expected, confirming once again the strength of the job market in US.
For its part, the index of production prices was also the occasion of a very pleasant surprise, to 2.2% compared with 1.9% anticipated in the annual data, and 0.6% versus 0.3% expected in monthly data.
In this context, the Dollar has reacted very positively to the short-term, as we can see on the Dollar Index, which pushed the EUR/USD pair on a low daily on the support of 1.1255, which is currently the moving average 100 hours.
A break below this area would therefore be significant from a technical point of view, and could open the way towards the next support at 1.1240 (moving average 200 hours), 1.1200, 1.1185 and 1.1175, the lowest this year.
The increase, 1.1285 remains the first resistance to monitor before 1.13, 1.1330, 1.1360 and 1.14.
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