3 Oct 2014
EUR/USD drops to lowest level in 2 years - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that following the release of the better-than-expected US nonfarm payrolls report EUR/USD dropped as low as 1.2517, a level last seen in September 2012.
Key quotes
"US NFP data surprised to the upside, with 248K new jobs added in September, unemployment rate down to 5.9%, lowest since 2008, and an upward revision from previous month reading to 180K."
"The bearish momentum seems to be just picking up, despite the 1 hour chart showing indicators still heading south in extreme oversold levels."
"Pullbacks should now found sellers in the 1.2570 former year low, with a break below 1.2500 favoring a downward continuation towards 1.2440/60 price zone in the short term, yet eyeing next strong static support at 1.2370 price zone."
Key quotes
"US NFP data surprised to the upside, with 248K new jobs added in September, unemployment rate down to 5.9%, lowest since 2008, and an upward revision from previous month reading to 180K."
"The bearish momentum seems to be just picking up, despite the 1 hour chart showing indicators still heading south in extreme oversold levels."
"Pullbacks should now found sellers in the 1.2570 former year low, with a break below 1.2500 favoring a downward continuation towards 1.2440/60 price zone in the short term, yet eyeing next strong static support at 1.2370 price zone."