EUR/USD Dropped to 1.2952

EUR/USD continues to weaken since the starts of this week’s trading, it fell down to 1.2952 the lowest since February this year. It gains ground before the Asian session closed today and began to drop again when it failed to break the 1.3062 resistance.

The good news in Germany seems to not affecting the market as currently the pair is ranging at 1.3020 to 1.3010. The German’s Industrial Production rose to 2.8% more than what was expected which is 0.8% monthly consensus basis. Market analysts also expecting a -1.2% decline for last month’s data and it turned positive, 1.6% gain.

Leave a Reply

Your email address will not be published. Required fields are marked *