FOREX-Euro off lows as market seeks direction after jobs

* Euro edging off lows after being hit by stop-loss orders

* Mood remains cautious after bleak U.S. jobs numbers

* But Reuters poll shows Aussie, kiwi to be well supported

By Charlotte Cooper

TOKYO, July 3 (Reuters) - The euro struggled back from its lowest levels in a week on Friday, after a wave of sell orders compounded losses made on bleak U.S. jobs numbers, and it found support as some investors judged it may have slipped too far.

Dealers said the euro hit stop-loss sell orders around $1.3980, and possible hedge fund selling, in the crossover between late U.S. trade and the start of the Asian day, sending it down to $1.3927 EUR= on electronic trading platform EBS.

The euro and currencies such as the Australian dollar, which have benefited from investor hopes for economic turnaround, had already weakened on Thursday after data showed U.S. employers cut 467,000 jobs in June, far more than expected. [ID:nN01210643]

But analysts said market players then bought the euro back on Friday, helping it off the lows, although it was still weaker than before the employment data and investors were still dismayed the jobs numbers spelled a slower recovery than hoped.

"The risk in the very short term is that maybe we could see some corrective activity. But I don't think we're going into serious risk aversion mode," said Sharada Selvanathan, a currency strategist at BNP Paribas in Hong Kong.