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The Euro’s (EUR) rally against the US Dollar (USD) was not affected by the worsening consumer confidence indicator for the Eurozone, considering that data by the European Commission suggested that the index remained stable despite a 0.3% decline.
The EUR/USD is trading at 1.16193, up by 0.40% for the day.
The pair’s lowest level today was 1.15404, while its highest was at 1.16272.
Data by the European Commission’s Directorate-General for Economic and Financial Affairs (DG ECFIN) showed that the consumer confidence indicator for the Eurozone declined in June by 0.3 points to -15.
On the European Union’s (EU) level, the consumer confidence indicator remained unchanged at -15.6.
Both indicators remain well below their long-term averages of -11.1 and -10.5, respectively.
A recent article published by Bloomberg suggested EUR/USD could soon reach 1.18, while some market analysts are seeing the pair going as high as 1.21 by the end of the year.
Support Levels: 1.1518 – 1.1465 – 1.1424
Resistance Levels: 1.1612 – 1.1653 – 1.1706
