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EUR/USD edging lower to key support on 1.28 handle

FXStreet (Guatemala) - EUR/USD is trading at 1.2848, down -0.01% on the day, having posted a daily high at 1.2902 and low at 1.2843.

EUR/USD is pressing on to the downside in a continuation of a series of lower lows on the candles from a move originating at the 1.2900 mark. We are in a broad based stronger dollar environment and relatively, the euro is weak while investors continue to park their money based upon divergence between the ECB and FED. G20 concerns on Europe over the weekend will also be priced in here with Europe’s flirtation with deflation and on going stagnant growth highlighted.

EUR/USD near term levels

Spot is presently trading at 1.2848, and next resistance can be seen at 1.2866 (Hourly 20 EMA) and 1.2877 (Hourly 100 SMA). Support below can be found at 1.2844 (Daily Classic PP) and 1.2829.

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