EURUSD UNDER PRESSURE BELOW 1.2252 LEVEL
The euro has moved to its lowest trading level against the greenback since March 1st, as fears over a slowdown in eurozone economic activity weigh on the single currency. The EURUSD pair currently trades around the 1.2239 level, after finding interim technical support from the 1.2217 level. Traders now look towards the release of German Industrial production data, with downside pressures likely to intensify while price-action trades below the 1.2252 level.
The EURUSD pair is under pressure while trading below the 1.2252 level, key support is found at the 1.2205 and 1.2160 level.
If the EURUSD pair moves above the 1.2252 level, buyers may look to test towards the 1.2275 and 1.2300 resistance levels.