- The pair remains in the red territory around 1.1600 on Wednesday.
- The greenback keeps the march north unabated and now targets 95.00.
- US Durable Goods Orders contracted less than expected in May.
The shared currency remains under heavy pressure on Wednesday and is now forcing EUR/USD to drop to the area of daily lows in the 1.1600 neighbourhood.
EUR/USD looks to Trump, data
The pair is probing the area of 3-day lows and trades at shouting distance from the critical support at 1.1600 the figure, always against the backdrop of a robust bounce in the greenback, with the US Dollar Index eyeing the psychological 95.00 milestone.
In fact, spot keeps looking to risk appetite trends, in turn almost exclusively driven by the trade disputes between the US, China and the European Union. In this regard, President Trump is expected to make a decision on Chinese investment in the US any time later today.
In the data space, US headline Durable Goods Orders contracted less than expected at a monthly 0.6% in May, while Core orders contracted 0.3% MoM vs. a forecasted 0.5% expansion.
Additional US data saw advanced US Goods Trade deficit at $64.85 billion vs. $68.9 billion during last month and flash Wholesale Inventories rose 0.5% inter-month.
EUR/USD levels to watch
At the moment, the pair is losing 0.42% at 1.1599 and a break below 1.1530 (low Jun.19) would target 1.1508 (2018 low May 29) en route to 1.1479 (low Jul.20 2017). On the other hand, the immediate resistance lines up at 1.1720 (high Jun.26) seconded by 1.1722 (23.6% Fibo of the April-May drop) and then 1.1853 (high Jun.14).
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