EURUSD rose yesterday and closed at 1.3792. Data released from the Eurozone showed that the unemployment rate remained steady at 11.9 percent in February. The Vice President of the European Central Bank Vitor Constancio projected inflation rate in the region to bounce back in April, following a fall to 0.5 percent in March. On the other hand Olli Rehn highlighted concerns on the possible impact of a prolonged period of low inflation in the Eurozone. In the United States the ISM Manufacturing Purchasing Managers Index advanced to a reading of 53.7 in March.
Data released today showed that the ADP Non-Farm Employment Change in the United States rose a level of 191K in March.
Support for the EURUSD is seen at 1.3708 and resistance is seen at 1.3813. The HotForex Traders Board shows that 61 percent of the traders are short on the EURUSD.
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EURUSD trading below the 1.38 mark after positive ADP Non-Farm Employment report from the United States
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