FXstreet.com (Barcelona) - After founding support at 1.3130, in the early European morning, the EUR/USD has rise above the 1.3200 level again after the better than expected US initial Jobless claims, recovering almost all of the initial losses. Currently the pair is trading around 1.3205/15, falling 0.10% on the day.
US initial jobless claims have posted biggest drop since December 2008, a decrease of 53k to 610k in April 11 week from 663k revised claims in the previous week. Expectations were a 2k claims increases to 665k.
The Swiss e Trade Strategy team says: Hovering above support levels in this European morning, the pair is currently trading at 1.3160. We expect the 1.3150 support at the lower end of the sideways trend channel to more or less hold in today's trading, serving as as a springboard to the upper end at 1.3290.
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