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23 Apr 2015
EUR/USD accelerates the drop post-PMIs
FXStreet (Edinburgh) - The common currency is now intensifying its depreciation against the greenback, sending EUR/USD to test session lows around 1.0670.
EUR/USD weaker on German PMI
The pair extended the daily drop after the preliminary manufacturing and services PMIs in the German economy surprised markets to the downside, coming in below expectations at 51.9 and 54.4, respectively.
Previously, French flash PMIs also missed consensus, coming in lower than the final figures during March while the Spanish unemployment ticked higher to 23.78% during the first quarter.
EUR/USD levels to watch
At the moment the pair is losing 0.47% at 1.0675 with the next support at 1.0660 (low Apr.21) followed by 1.0646 (61.8% of 1.0521-1.0849) and then 1.0624 (low Apr.16). On the upside, a surpass of 1.0787 (Kijun Sen) would target 1.0801 (high Apr.22) en route to 1.0825 (high Apr.20).
EUR/USD weaker on German PMI
The pair extended the daily drop after the preliminary manufacturing and services PMIs in the German economy surprised markets to the downside, coming in below expectations at 51.9 and 54.4, respectively.
Previously, French flash PMIs also missed consensus, coming in lower than the final figures during March while the Spanish unemployment ticked higher to 23.78% during the first quarter.
EUR/USD levels to watch
At the moment the pair is losing 0.47% at 1.0675 with the next support at 1.0660 (low Apr.21) followed by 1.0646 (61.8% of 1.0521-1.0849) and then 1.0624 (low Apr.16). On the upside, a surpass of 1.0787 (Kijun Sen) would target 1.0801 (high Apr.22) en route to 1.0825 (high Apr.20).