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).