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31 Jul 2015
EUR/USD soars more than 100 pips after disappointing US employment-cost index
FXStreet (Córdoba) - EUR/USD rallied to fresh highs beyond 1.1000 as the dollar slumped across the board following disappointing US labor costs data.
US employment-cost index climbed a seasonally adjusted 0.2% in the second quarter, the Labor Department said Friday. The reading missed expectations of 0.6% and marked the smallest quarterly gain since record keeping began in 1982.
The greenback fell broadly, with EUR/USD rising more than 100 pips in a matter of minutes to score a high of 1.1081. At time of writing, the pair is trading at 1.1039, recording a 1.23% gain on the day.
EUR/USD levels to watch
On the upside, next resistances are seen at 1.1080 (Jul 29 high ), 1.1100 (psychological level) and 1.1130 (Jul 27 high ). On the downside, supports could be found at 1.0920 (Jul 31 low), 1.0893 (Jul 30 low) and 1.0869 (Jul 22 low).
US employment-cost index climbed a seasonally adjusted 0.2% in the second quarter, the Labor Department said Friday. The reading missed expectations of 0.6% and marked the smallest quarterly gain since record keeping began in 1982.
The greenback fell broadly, with EUR/USD rising more than 100 pips in a matter of minutes to score a high of 1.1081. At time of writing, the pair is trading at 1.1039, recording a 1.23% gain on the day.
EUR/USD levels to watch
On the upside, next resistances are seen at 1.1080 (Jul 29 high ), 1.1100 (psychological level) and 1.1130 (Jul 27 high ). On the downside, supports could be found at 1.0920 (Jul 31 low), 1.0893 (Jul 30 low) and 1.0869 (Jul 22 low).