The Euro erased early losses and climbed to a six-week high against Dollar after had weakened during the day as German factory orders unexpectedly fell for the first time in five months in May, coming out at -0.5% vs. 0.5% forecast, in the end closed almost unchanged after stocks market become positive. The EUR/USD has been trading upwards since last week and broken its resistance levels on the daily chart at 1.2500, therefore the momentum is bullish, as long the price is above 1.2500 a long position is preferred. Overall, EUR/USD traded with a low of 1.2553 and with a high of 1.2664. Today, interest rate decision is expected to remain unchanged at 1%.

EUR/USD - Last: 1.2664

Resistance

1.2700

 
 

Support

1.2550

1.2480

1.2300

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