Back
23 Jun 2015
EUR/USD ignores PMIs, tests lows near 1.1240
FXStreet (Edinburgh) - The common currency intensifies its downside vs. the dollar on Tuesday, with EUR/USD now challenging daily lows in the 1.1240 area.
EUR/USD indifferent TO PMIs
After a short-lived recovery to the 1.1280, the pair’s decline has regained momentum and is now trading in the lower end of the range around 1.1240. Positive surprises from flash manufacturing and services PMIs in the euro region failed to trigger some buying interest around the shared currency, which seems to be more concerned about the Greek developments.
There’s no further releases in the euro area today, prompting investors to shift their attention to Greek headlines and US data: Durable Goods Orders, New Home Sales and the preliminary manufacturing PMI tracked by Markit.
EUR/USD levels to consider
As of writing the pair is down 0.90% at 1.1237 with the next support at 1.1205 (low Jun.17) followed by 1.1189 (low Jun.15) and then 1.1151 (low Jun.12). On the other hand, a breakout of 1.1349 (high Jun.23) would open the door to 1.1404 (high Jun.22) and finally 1.1421 (high Jun.18).
EUR/USD indifferent TO PMIs
After a short-lived recovery to the 1.1280, the pair’s decline has regained momentum and is now trading in the lower end of the range around 1.1240. Positive surprises from flash manufacturing and services PMIs in the euro region failed to trigger some buying interest around the shared currency, which seems to be more concerned about the Greek developments.
There’s no further releases in the euro area today, prompting investors to shift their attention to Greek headlines and US data: Durable Goods Orders, New Home Sales and the preliminary manufacturing PMI tracked by Markit.
EUR/USD levels to consider
As of writing the pair is down 0.90% at 1.1237 with the next support at 1.1205 (low Jun.17) followed by 1.1189 (low Jun.15) and then 1.1151 (low Jun.12). On the other hand, a breakout of 1.1349 (high Jun.23) would open the door to 1.1404 (high Jun.22) and finally 1.1421 (high Jun.18).