FXstreet.com (Córdoba) - The Euro is falling further against the Dollar. EUR/USD tumbled to 1.4870 posting the lowest price in a week and currently is hovering around the lows, 1.20% below today's opening price. The pair has fallen almost 200 pips since the jobs report was release. Greenback is also being help by a good reading in Factory Orders and the collapse in gold prices.
The metal is trading below $1,170, almost $40 below the price it had at the beginning of the day and is posting the biggest daily loss in more than a year.
The ecPulse.com analysis team affirms: The 16-nation currency has corrected to the downside after reaching near 16-month low versus the greenback this week and it fell rapidly after breaching the strong support at 1.5000. Now, the pair is expected to face the next support at 1.4870 while the next resistance will be at 1.4920.