EUR/USD closed in positive territory on Wednesday and went into a consolidation phase above 1.0500 early Thursday. The pair's technical picture points
EUR/USD stabilized above 1.0500 following Wednesday's modest recovery. Euro could struggleto extend its rebound unless it clears 1.0540. Markets will pay close attention to the weekly Initial Jobless Claims data from the US. to a neutral outlook in the near term but buyers could show interest once the 1.0540 hurdle is cleared. Employment in the US private sector rose 89,000 in September, the monthly data published by ADP revealed on Wednesday.
The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR /JPY . Later in the day, the US Department of Labor will release the weekly Initial Jobless Claims data.
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