Euro remains under pressure amid risk aversion triggered by Italian politics. EUR/USD recovery ends below 1.1600 and retreats to 1.1550. The EUR/USD pair rose to 1.1589 after the beginning of the US session. The recovery was short-lived and it was moving toward daily lows. The euro was back under 1.1550 still under pressure. The common currency was the worst performer among majors, weakened by the Italian political crisis. The last headline was that Carlos Cottarelli left the Presidential Palace. He is the new PM candidate of President Mattarella. European equity markets dropped sharply today with main indexes down more than 1.5% on average while Italian bond yields soared. The risk aversion environment affected the euro and favored the US Dollar and the yen. After a brief pause, the negative tone re-emerged in Wall Steet. The DOW JONES was at fresh lows, down 1.24% at the lowest since May 9. EUR/USD levels to watch The recovery of the pair was capped below the 20-hour moving average (1.1590) and it dropped back below 1.1550. To the downside, immediate support might be seen at 1.1530 before the daily low at 1.1505/10 and 1.1475. On the upside, the immediate resistance could be located at 1.1590 followed by 1.1640 (May 29 high) and 1.1670/75. 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 US: Home price gains broad-based boosted by pace of sales – Wells Fargo FX Street 5 years Euro remains under pressure amid risk aversion triggered by Italian politics. EUR/USD recovery ends below 1.1600 and retreats to 1.1550. The EUR/USD pair rose to 1.1589 after the beginning of the US session. The recovery was short-lived and it was moving toward daily lows. The euro was back under 1.1550 still under pressure. The common currency was the worst performer among majors, weakened by the Italian political crisis. The last headline was that Carlos Cottarelli left the Presidential Palace. He is the new PM candidate of President Mattarella. European equity markets dropped sharply today with main indexes down more than… 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.
