The Euro dropped for a second week against the Dollar to a five-week low as weaker economic data and calls by a European Central Bank official for more economic aid damped investor appetite for higher-yielding currencies. The pair has been trading downwards since August and trading under the 10 moving average on the daily chart, therefore the momentum is bearish and a short position is preferred. Overall, EUR/USD traded with a low of 1.2663 and with a high of 1.2833.Today, German Flash Manufacturing PMI is expected at 60.9 vs. 61.2 prior, Flash Manufacturing PMI is expected at 56.3 vs. 56.7 prior.

EUR/USD - Last: 1.2712

Resistance

1.2734

1.2833

1.2922

Support

1.2660

  

width=480