Euro Still Under Pressure

After having gained slightly from Monday, the EUR/USD pair made a downward trend and fell by 60 pips reaching at 1.3610. Its upward trend had resulted from the rising speculation of the European Central bank trying to cut down its interest rates and this is yet to be concluded in the next meeting that is due to take place next week.

The U.S. data was mixed during yesterday’s session and the trend of the greenback was not clear. There are a couple of economic events that will occur today coming for EU and this may show a positive picture from the data release. Its trend is slightly bearish with support level at 1.3600 whilst its resistance is at 1.3690.

The USD/JPY pair first increased due to the positive expectations following the U.S. Durable Goods Orders and the Core Durable Goods Orders but the dollar weakened as the data came out mixed.

The numbers of the CB Consumer Confidence were slightly worse although this was not too much to show any significant movement.

During the Asian session, Bank Of Japan (Boj) Governor spoke about expectations of the monetary easing despite showing signs of good economic data. Analysts have forecasted the pair to reach 107 in the future.

Currently, its support level is at 101.70 and resistance at 102.35.