FXstreet.com (Barcelona) - The Euro Dollar dropped somewhat in early European session on weak consumer confidence data in Germany, according to the Swiss e Trade Strategy Team: The EUR / USD is currently trading at 1.5755, near its closing price from yesterday. A weaker-than-expected consumer confidence report out of Germany caused the EUR / USD to drop to its current low of the day at 1.5726, but there was no follow-through selling and prices recovered to the current level.

The Swiss e Trade Strategy Team expects prices to remain at the current levels: We expect prices today to remain in a sideways channel, with support at 1.5690 and resistance at 1.5820.