FXstreet.com (Barcelona) - Euro failure to break above 1.4300 has triggered weakness on the pair which increased on the back of the unexpected deterioration of the Univ. Michigan Consumer sentiment Index, sending the Euro o an intra-day low below 1.4250.
In case of confirmation at intra-day lows, next support level would come at 1.4200 (Aug 13 low) and 1.4180. On the upside, above 1.4250, initial resistance level comes at 1.4300, and above here, 1.4325 (Aug 13 high) and 1.4350/60.
The Univ Michigan Consumer Sentiment Index has deteriorated to 63.2 in August from 66.0 in July, when the market consensus advanced an increase to around 68.1. The assessment of the current economic situation has deteriorated to a reading of 64.9 in August from 70.5 in July, and the expectations Index has declined to 62.1 in August from 63.2 in July.