FXstreet.com (Barcelona) - The EUR/USD gave in to the mounting pressure and lost the 1.2200 handle during the European session. The FOMC meeting minutes of yesterday only strengthened the greenback and today’s European data even weakens more the already broken sentiment . EMU’s industrial production is already down by -2.8% (annualized) in May and the unemployment rate in Greece rose to 22.5%.
The EUR/USD is extending its July plunge already to 1.2185 low, but the downside is likely to extend further. “The currency pair EUR/USD continues its downward trend and we expect to test 1.2150. Only eventual break above 1.2406 could change negative attitudes”, wrote Deltastock.com analyst Stoyan Mihaylov.
Ahead in the US are import and export prices data, jobless claims and the 30-year debt auction. Concerns about the Chinese Q2 GDP due to be released tomorrow is weighing in the market.
The EUR/USD is extending its July plunge already to 1.2185 low, but the downside is likely to extend further. “The currency pair EUR/USD continues its downward trend and we expect to test 1.2150. Only eventual break above 1.2406 could change negative attitudes”, wrote Deltastock.com analyst Stoyan Mihaylov.
Ahead in the US are import and export prices data, jobless claims and the 30-year debt auction. Concerns about the Chinese Q2 GDP due to be released tomorrow is weighing in the market.
