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EUR/USD Maintains Downward Trend

M. Ali 8 September, 2020 10:29 pm Forex Market, Market Update

The Euro (EUR) is maintain its declining trend against the US Dollar (USD) on Tuesday, falling to its lowest level in front of the greenback in about two weeks.

The EUR/USD pair is trading lower for the day by 0.29% at 1.1783 after falling as low as low 1.766 at the beginning of the US session, despite rising in the European session as high as 1.1827, after closing Monday at 1.1817.

The Eurozone GDP fell by 14.7% during the second quarter of 2020, a decline that although is the highest on record was below market expectations of a 15% contraction.

Support Levels: 1.1801 – 1.1788 – 1.1764

Resistance Levels: 1.1838 – 1.1862 – 1.1875

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