EUR/USD makes fresh 2-month lows

By FXStreet EUR/USD came under renewed pressure during the New York session and made marginal new two-month lows as the dollar picked up pace despite below-expectations US services PMI data.

EUR/USD broke through yesterday’s low and stretched to its lowest level since March 13th at 1.1128 so far. At time of writing, the pair is trading at 1.1130, down 0.67% on the day and headed to post its fourth daily loss in a row.

The preliminary reading of the May Markit services PMI for the US came in at 51.2, below market expectations of 53.1, marking the weakest rise in service sector activity for three months.

EUR/USD technical levels

As for technical levels, immediate supports are seen at 1.1102/00 (200-day SMA/psychological level), 1.1057 (Mar 16 low) and 1.1024 (Mar 7 low). On the flip side, resistances on bounces could be found at 1.1164 (100-day SMA), 1.1226 (May 24 high), 1.1245 (10-day SMA) and then 1.1315 (50-day SMA/May 18 high).
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Source:: FX Street