EUR/USD Technical Analysis: Bearish Start

With the start of this week’s trading, the price of the EUR/USD currency pair completed the downward path, closing last week’s trading around the support level 1.0232. The EUR/USD pair was subjected to selling operations for the third consecutive day, starting from the resistance level 1.0368.

The euro was affected by the June industrial production in the EU exceeding expectations (MoM) at 0.2% with 0.7%. The equivalent (YoY) outperformed 0.8% by 2.4%. In Germany, the HS CPI for July matched expectations (on an annual basis) at 8.5%. The EQ (MoM) also came in line with expectations of 0.8%.

Steve Walker

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