FXstreet.com (Barcelona) - EUR is tanking after the flash Univ. of Michigan Consumer Sentiment index improved to 73.6, beating expectations at 72.4 and previous print at 72.3
In the same direction, US Leading Indicator rose 0.4% MoM in July, above estimates at +0.2% and far better than June’s -0.4%.
Euro sentiment is being hammered as of writing, with the single currency piercing the 1.2300 mark against the buck.
At the moment, EUR/USD is losing 0.37% at 1.2311 with the next support at 1.2256 (low Aug.16) ahead of 1.2242 (low Aug.10) and finally 1.2195 (61.8% of 1.2042-1.2444).
On the upside, a breakout of 1.2388 (high Aug.9) would bring 1.2402 (high Aug.8) and 1.2429 (Upper Bollinger).
In the same direction, US Leading Indicator rose 0.4% MoM in July, above estimates at +0.2% and far better than June’s -0.4%.
Euro sentiment is being hammered as of writing, with the single currency piercing the 1.2300 mark against the buck.
At the moment, EUR/USD is losing 0.37% at 1.2311 with the next support at 1.2256 (low Aug.16) ahead of 1.2242 (low Aug.10) and finally 1.2195 (61.8% of 1.2042-1.2444).
On the upside, a breakout of 1.2388 (high Aug.9) would bring 1.2402 (high Aug.8) and 1.2429 (Upper Bollinger).
