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EUR/USD in lows ahead of German unemployment

FXstreet.com (Barcelona) - The bearish sentiment continues to weight on the shared currency on Wednesday, dragging the EUR/USD to fresh lows around 1.2840 ahead of the opening bell in London.

German jobless rate is due next, with market consensus expecting the headline to stay put at 6.9% in May. Further relevant data will show flash consumer prices in Germany during May and a Spanish auction of Obligaciones maturing in 10 years.

At the moment the pair is losing 0.07% at 1.2846 facing the next support at 1.2821 (low May 23) followed by 1.2809 (low May 20) and then 1.2796 (low May 17). On the flip side, a break above 1.2939 (hourly high May 28) would bring 1.2986 (MA21d) and finally 1.2994 (high May 24).

Sterling hovering above critical support at 1.5000

The Sterling finished the day sharply lower, closing down 100 pips at 1.5034 and sitting just above the critical support level of 1.5000 which has halted declines over the past two weeks.
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