FXStreet (Edinburgh) – The shared currency is now losing the grip vs. the dollar on Tuesday, sending EUR/USD to challenge session lows around 1.1220.
EUR/USD weaker ahead of US data
The pair is coming down after being rejected from the 1.1280 area before the opening bell in London, retreating to session lows following a pick up in the risk appetite trends.
Furthermore, spot is accelerating its decline in spite of the auspicious gauges of sentiment and confidence in the euro area for the current month, with both Economic Sentiment and Business Climate surpassing expectations.
EUR/USD levels to watch
As of writing the pair is losing 0.17% at 1.1224 with the next support at 1.1200 (psychological level) ahead of 1.1146 (low Sep.28) and then 1.1105 (low Sep.23). On the flip side, a break above 1.1283 (high Sep.29) would target 1.1296 (high Sep.24) en route to 1.1330 (high Sep.21).
(Market News Provided by FXstreet)