In Asian trading Friday, EUR/USD fell 0.06% to 1.3412. The pair was likely to find support at 1.3254, the low from Sept. 13, and resistance at 1.3548, Wednesday's high.
On Thursday, he European Central Bank surprisingly lowered interest rates to a record-low 0.25% from 0.5%. The bank also cut its marginal lending rate to 0.75% from 1% and left its deposit facility rate unchanged at zero.
ECB President Mario Draghi said euro zone borrowing costs will remain at present or even lower levels until the economy improves, adding that the euro zone may experience "a prolonged period of low inflation."
Most traders did not expect ECB to lower rates because the central bank has previously been biased toward monetary easing, not interest rate reductions. However, some soft economic data out of the euro zone in recent days may have forced Draghi’s hand.
In U.S. economic news out Thursday, the Commerce Department said the U.S. economy grew at an annual rate of 2.8% in the three months to September, far surpassing expectations for a 2.0% reading. The U.S. economy grew by 2.5% in the preceding quarter.
Separately, the Department of Labor said the number of individuals filing for initial jobless benefits in the U.S. last week fell by 9,000 to a seasonally adjusted 336,000, largely in line with analysts' forecasts for a claims to fall by 10,000.
EUR/USD will be in play again Friday at U.S. is set to deliver the University of Michigan is to release the preliminary reading of its consumer sentiment index, while the Labor Department will release its report on nonfarm payrolls and the unemployment rate.
Elsewhere, EUR/JPY rose 0.06% to 131.72 while EUR/AUD fell 0.28% to 1.4157.
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