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Forex: EUR/USD retreats to 1.3660/65

By FXstreet.com,  February 01, 2013, 02:18:00 PM EDT

The shared currency is easing further ground on Friday after hitting fresh tops above 1.3700, currently trading around 1.3660/65
The euro found extra support after the US economy added 157K jobs during January, below estimates at 160K; while the unemployment rate up ticked to 7.9% vs. 7.8% previous.

Very light docket in the bloc on Monday is unlike to spark any selling interest in the euro, as the Spanish Unemployment Change is due (+150.0K exp.), followed by the Sentix index -3.6 exp.) and the Producer Prices (+2.2% YoY exp.).

At the moment, the cross is up 0.63% at 1.3663 and a surpass of 1.3815 (high Nov.14) would aim for 1.3833 (61.8% of 2011-2012 decline).
On the flip side, support levels lie at 1.3574 (hourly low Feb.1) and then 1.3542 (low Jan.31).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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