Investing.com - The euro was trading near five-week lows against the U.S. dollar on Friday, after positive German factory orders data, as comments by European Central Bank President Mario Draghi on Thursday continued to weigh.
EUR/USD hit 1.3696 during late Asian trade, the pair's lowest since February 28; the pair subsequently consolidated at 1.3704, slipping 0.11%.
The pair was likely to find support at 1.3643, the low of February 27 and resistance at 1.3772, the high of March 28.
Official data earlier showed that German factory orders rose rose 0.6% in February, exceeding expectations for a 0.1% gain. Factory orders in January were revised down to a 0.1% increase from a previously estimated 1.2% rise.
But the single currency remained under pressure after ECB President Draghi played down the risk of deflation in the euro zone on Thursday, but added that the bank has not ruled out further policy action, including quantitative easing.
The comments came after the central bank left rates on hold at a record low 0.25%.
Meanwhile, markets were eyeing upcoming U.S. nonfarm payrolls data, to be released later in the day, after payroll processing firm ADP reported on Wednesday that the U.S. private sector added 191,000 jobs last month, slightly below expectations for jobs growth of 195,000.
The euro was steady against the pound, with EUR/GBP dipping 0.05% to 0.8262.