Back
1 Jun 2015
EUR/USD softer below 1.0900
FXStreet (Edinburgh) - The European currency has accelerated its downside momentum at the beginning of the week, dragging EUR/USD to session lows near 1.0890.
EUR/USD in sub-1.0900 post-EMU data
The euro continues to give ground following the mixed results from the final manufacturing PMIs in Euroland during the last month, with Spain, Italy and France surpassing expectations and Germany and the EMU coming in below consensus.
The Greek front continues to be the main drag for the euro, with all the attention today in the meeting between A.Merkel, F.Hollande and J.C.Juncker with Greece in the top of the agenda.
Next on tap will be the preliminary CPI in Germany during May, ahead of key releases across the pond: Personal Income/Spending and the ISM Manufacturing.
EUR/USD levels to watch
The pair is now losing 0.75% at 1.0903 with the next support at 1.0867 (low May 28) ahead of 1.0819 (low May 27) and finally 1.0800 (psychological level). On the upside, a break above 1.0990 (high Jun.1) would target 1.1002 (10-d MA) en route to 1.1010 (high May 25).
EUR/USD in sub-1.0900 post-EMU data
The euro continues to give ground following the mixed results from the final manufacturing PMIs in Euroland during the last month, with Spain, Italy and France surpassing expectations and Germany and the EMU coming in below consensus.
The Greek front continues to be the main drag for the euro, with all the attention today in the meeting between A.Merkel, F.Hollande and J.C.Juncker with Greece in the top of the agenda.
Next on tap will be the preliminary CPI in Germany during May, ahead of key releases across the pond: Personal Income/Spending and the ISM Manufacturing.
EUR/USD levels to watch
The pair is now losing 0.75% at 1.0903 with the next support at 1.0867 (low May 28) ahead of 1.0819 (low May 27) and finally 1.0800 (psychological level). On the upside, a break above 1.0990 (high Jun.1) would target 1.1002 (10-d MA) en route to 1.1010 (high May 25).