Weak ADP sends the EURUSD higher/Unit Labor costs sends it lower via ForexLive

Trade balance better than expected. The ADP employment report was not so hot, with a rise of 156K vs the estimate of 195K.  The weaker data has the EURUSD moving to new session highs (the price peaked 1.15288).  The 38.2% of the move down from yesterday's high comes in at 1.15248. The midpoint of the same move lower comes in at 1.15421.  Look for rallies toward the 50% to be sold today.

posted via ForexLive