FXStreet (Edinburgh) – The European currency remains mired in the negative ground on Tuesday, taking EUR/USD to the mid-1.1150 after US data releases.
EUR/USD ignored data
The offered tone keeps hurting the pair despite another set of mixed data from the US calendar today. New Home Sales in the US economy increased to 546K during May, bettering initial forecasts. These results run opposite to the miserable prints from May’s Durable Goods Orders (-1.8% MoM) and June’s manufacturing PMI by Markit (53.4), both missing previous estimates.
In the meantime, the wave of rumours and comments from the Greek front seems to have allayed somewhat, leaving all the attention to tomorrow’s Eurogroup meeting.
EUR/USD levels to consider
As of writing the pair is down 1.65% at 1.1152 with the next support at 1.1100 (psychological level) followed by 1.1087 (low Jun.8) and then 1.1049 (low Jun.5). On the other hand, a breakout of 1.1349 (high Jun.23) would open the door to 1.1404 (high Jun.22) and finally 1.1421 (high Jun.18).
(Market News Provided by FXstreet)