The selling pressure picks up pace around the European currency. Italian politics emerges as the exclusive driver for the pair’s weakness. EMU’s Consumer Confidence measured by the EC next of relevance. The selling pressure is gathering traction around the shared currency in the second half of the week and is now forcing EUR/USD to re-visit the area close to 2018 low at 1.1510. EUR/USD weaker on Italy Spot is accelerating the weekly leg lower to the vicinity of 1.1500 the figure after news from the Italian political scenario hurt the sentiment surrounding the shared currency. In fact, markets reacted negatively after Lega Nord’s Economist and euro-sceptic Alberto Bagnai has been appointed Head of the Senate Finance Committee. In the same line, stocks in Italy and the rest of Euroland are trading in the red territory while yields of the Italian 10-year note are trading in daily highs, widening the spread vs. their German counterpart. Adding to the ongoing weakness around the pair, the greenback is prolonging the march higher and trades in fresh 11-month peaks around 95.40/50. Data wise in the region, the flash measure of the Consumer Confidence by the European Commission is coming up next along with the Eurogroup meeting. IN the US calendar, the Philly Fed index will be the salient event seconded by weekly Initial Claims. EUR/USD levels to watch At the moment, the pair is losing 0.47% at 1.1520 and a breakdown of 1.1509 (low Jun.21) would target 1.1508 (2018 low May 29) en route to 1.1479 (low Jul.20 2017). On the flip side, the next hurdle aligns at 1.1646 (high Jun.19) seconded by 1.1661 (10-day sma) and finally 1.1674 (21-day sma). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin Cash price analysis: BCH/USD trims gains after rejecting supply zone support; UK self-regulatory body tells MPs to regulate cryptocurrencies or miss out on the technology FX Street 5 years The selling pressure picks up pace around the European currency. Italian politics emerges as the exclusive driver for the pair's weakness. EMU's Consumer Confidence measured by the EC next of relevance. The selling pressure is gathering traction around the shared currency in the second half of the week and is now forcing EUR/USD to re-visit the area close to 2018 low at 1.1510. EUR/USD weaker on Italy Spot is accelerating the weekly leg lower to the vicinity of 1.1500 the figure after news from the Italian political scenario hurt the sentiment surrounding the shared currency. In fact, markets reacted… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.