EUR/USD remains under pressure, treads waters around 1.0720
EUR/USD hovers around 1.0720 during the Asian session on Wednesday, treading waters to snap the previous day’s losses. The pair is under pressure due to disappointing data from the Eurozone released on Tuesday.
Eurozone Producer Price Index (PPI) for July reduced to -0.5% on a monthly basis and -7.6% on an annual basis from -0.4% and -3.4% respective priors. Further, HCOB Composite PMI for August declined to 46.7 from the previous reading of 47, which was expected to remain unchanged.
Eurozone Producer Price Index (PPI) for July reduced to -0.5% on a monthly basis and -7.6% on an annual basis from -0.4% and -3.4% respective priors. Further, HCOB Composite PMI for August declined to 46.7 from the previous reading of 47, which was expected to remain unchanged.
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Good luck and smooth trading <3
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In euros, the Construction PMI in Germany improved slightly to 41.5 in August and Factory Orders fell a marked 11.7% in July from the previous month.
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Euro is moving sideways before deciding on its next steps
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Support levels: 1.0670 1.0630 1.0595
Resistance levels: 1.0720 1.0755 1.0790
Resistance levels: 1.0720 1.0755 1.0790
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The major trades around 1.0696, up 0.01%.
