EUR/USD testing lows near 1.3590

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Edinburgh) - The shared currency is now losing the grip, dragging the EUR/USD to challenge session lows in the 1.3595/90 band.



EUR/USD weaker post-PMIs



The pair showing some weakness at the moment, dropping below the 1.3600 handle after advanced manufacturing and services PMI readings in France and Germany surprised investors to the downside. Next of note in the region will be the EMU’s PMI, ahead of US manufacturing PMI tracked by Markit and Existing Home Sales. “Downward pressure on euro-zone yields following further ECB easing should help to dampen euro upside in the near-term”, assessed the research team at BTMU.



EUR/USD key levels



The pair is now losing 0.05% en 1.3592 and a breakdown of 1.3584 (low Jun.19) would expose 1.3569 (10-d MA) and finally 1.3543 (55-w MA). On the flipside, the initial hurdle aligns at 1.3644 (high Jun.19) followed by 1.3669 (high Jun.9) and then 1.3677 (high Jun.6).



comments powered by Disqus
Related Forex Analysis
  1. Ranges Persist in USD-Pairs Post-FOMC Meeting
    Forex News

    Ranges Persist in USD-Pairs Post-FOMC Meeting

  2. EUR/USD trading close to 1.2580 - FXStreet
    Forex News

    EUR/USD trading close to 1.2580 - FXStreet

  3. EUR/USD depressed below 1.2600
    Forex News

    EUR/USD depressed below 1.2600

  4. EUR/USD Falls After Federal Reserve
    Investing

    EUR/USD Falls After Federal Reserve

  5. EUR/USD got slight support from better German Labor data
    Forex News

    EUR/USD got slight support from better German Labor data

Trading Center