EUR/USD slumps to multi-week lows below 1.2150


  • EUR/USD continues to push lower in the American session.
  • Upbeat data releases from US help greenback outperform its rivals.
  • US Dollar Index extends rally to fresh multi-week highs near 90.50.

The EUR/USD pair came under strong bearish pressure during the American session on Thursday and touched its lowest level since May 17 at 1.2130. As of writing, the pair was down 0.6% on the day at 1.2135.

USD capitalizes on great US data

Following the key macroeconomic data releases from the US, the greenback gathered strength against its rivals and the US Dollar Index (DXY) reached a three-week high of 90.47. At the moment, the DXY is rising 0.61% on a daily basis at 90.45.

The data published by the Automatic Data Processing (ADP) Research Institute showed on Thursday that private sector employment increased by 978,000 in May, compared to the market expectation of 654,000. Additionally, the weekly Initial Jobless Claims declined to 385,000 from 405,000.

Finally, the Markit Services PMI and the ISM Services PMI both notched new series highs of 70.4 and 64, respectively, in May. Furthermore, the Prices Paid Index component of the ISM PMI report surged to its strongest level in nearly 15 years 80.6 to revive inflation concerns. Currently, the 10-year US Treasury bond yield is up 1.8% at 1.616%, providing an additional boost to the USD.

Meanwhile, Wall Street's main indexes are losing between 0.4% and 1.3%, allowing the greenback to preserve its strength.

Technical levels to watch for

EUR/USD

Overview
Today last price 1.2133
Today Daily Change -0.0078
Today Daily Change % -0.64
Today daily open 1.2211
 
Trends
Daily SMA20 1.2173
Daily SMA50 1.2034
Daily SMA100 1.2041
Daily SMA200 1.1982
 
Levels
Previous Daily High 1.2226
Previous Daily Low 1.2164
Previous Weekly High 1.2266
Previous Weekly Low 1.2133
Previous Monthly High 1.2266
Previous Monthly Low 1.1986
Daily Fibonacci 38.2% 1.2188
Daily Fibonacci 61.8% 1.2203
Daily Pivot Point S1 1.2175
Daily Pivot Point S2 1.2138
Daily Pivot Point S3 1.2112
Daily Pivot Point R1 1.2237
Daily Pivot Point R2 1.2263
Daily Pivot Point R3 1.2299

 

 

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