EUR/USD remains vulnerable
The investor confidence in terms of the Sentix index, came in lower than expectations at -12.6 for the month of June, missing the median at -10.0 and lower than May’s -11.6. Next on tap in the euro area will be the German industrial production figures, with market consensus expect a monthly contraction of 0.5% during May. “The 1.2800 area has held well since April and may hold again on the day but EUR remains a sell on rallies”, suggested Sean Callow, Strategist at Westpac.
EUR/USD key levels
At the moment the pair is up 0.24% at 1.2842 with the next resistance at 1.2916 (high Jul.5) ahead of 1.2980 (MA10d) and finally 1.3000 (psychological level). On the flip side, a breakdown of 1.2806 (low Jul.5) would open the door to 1.2796 (low May.17) and then 1.2765 (weekly cloud base).