Open Demo Account
Home / Market Update / Forex Market / EUR/USD Maintains Downward Trend

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

Tags

Check Also

May Inflation Cools, Raising Hopes for Fed Rate Cuts

U.S. inflation eased in May, matching economists’ expectations and potentially bolstering the case for the …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends