Euro is losing ground
The single currency is losing ground against the US dollar, despite positive data on employment in Germany. See Market News. The main pressure on the single currency is provided by further reduction in the cross-rate EUR/GBP, as well as the overall strengthening of the US dollar, amid rising demand for risky assets.
Technical analysis: Despite the decline, the pair EUR/USD maintains an uptrend in the short term. The nearest support level is considered in the area of 1,1810-1,1800, in the event that the pair will be able to gain a foothold below this range, one should expect further reduction of the pair to the area of 1,1745-1,1725.
Fig. EUR/USD, current price – 1,1834
Alexander Sivtsov