On daily chart EUR/USD stays within range of the 141.4% Fibonacci extension on the Daily charts above 1.2896, with yesterday’s range not more than 55 pips. The U.S unemployment claims figures did not shift the focus away from selling off the USD for traders who have bought earlier.
On H4, paying attention to the overbought indications of the Stochastics on this time frame, selling action seems weaker as the market tries to look for reoccurrences of bearish opportunities. Retracements are expected and may be a good entry for countertrend traders to trade towards 1.3000 before the next swing.
Next support levels: 1.2896, 1.28, 1.2738
Next resistance levels: 1.2963, 1.3000