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EUR/USD deflates to 1.2680

FXStreet (Edinburgh) - The shared currency is now losing more ground vs. the greenback, dragging EUR/USD back to the 1.2680/75 band.

EUR/USD weaker post data

Disappointing results from the German IFO for the month of October seems to be weighing on investors’ sentiment now, despite the credit figures in the EMU area surpassed expectations. With the recent results from the ECB’s stress tests in the rear mirror, market participants will now turn their focus on the US data releases: services PMI gauged by Markit and Pending Home Sales.

EUR/USD relevant levels

The pair is now up 0.04% at 1.2675 with the next resistance at 1.2723 (10-d MA) followed by 1.2730 (200-h MA) and finally 1.2740 (high Oct.22). On the downside, a break below 1.2635 (low Oct.24) would expose 1.2614 (low Oct.23) and then 1.2605 (low Oct.10).

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