Search ForexCrunch
  • The pair remains under pressure in the mid-1.1600s.
  • The greenback stays firm although still below the 95.00 handle.
  • Attention remains on trade, Trump, US data.

The selling pressure remains well and sound aroundthe European currency at the end of the week and is now prompting EUR/USD to trade in the mid-1.1600s, or daily lows.

EUR/USD looks to trade, data

The pair is trading in the red territory since Tuesday, navigating the area of fresh multi-day lows in the 1.1650 region amidst a solid sentiment surrounding the buck and persistent effervescence on the US-China trade front.

Market participants continue to look to the trade disputes as the main driver for the direction in the global markets along with comments from President Trump as his European visit is under way.

In the data space, nothing worth mentioning in Euroland today, whereas Export/Import Prices are due across the pond seconded by the preliminary reading of the U-Mich index for the current month.

EUR/USD levels to watch

At the moment, the pair is losing 0.15% at 1.1653 and a break below 1.1650 (low Jul.12) would open the door to 1.1527 (low Jun.29) and then 1.1508 (2018 low May 30). On the upside, the next resistance emerges at 1.1686 (10-day sma) seconded by 1.1741 (55-day sma) and finally 1.1792 (high Jul.9).