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Holds Above $1.1800, Gains a Recovery Lift Through The 1600BST Fix

EURO-DOLLAR
MNI (London)

Release of weaker then forecast US Jobless data saw US equities move lower, in turn providing a boost for the USD which provided the impetus for EUR/USD to press down to $1.1802, the move seeking to clear out any stale short term longs. However, the hold above $1.1800 attracted some fresh demand, as US equities began to edge higher, this interest boosted through the 1600BST fix as rate edged back toward its earlier high of $1.1869, though held shy at $1.1865(38.2% $1.1966-1.1802). A break here to open a move toward $1.1884(50%) ahead of $1.1903/27 (61.8%-76.4%). Support remains into $1.1800

MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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