EUR/USD: The euro plunged to a fresh 2-week low after data showed inflation in the euro zone slowed to 1.2 percent in May, the lowest rate in more than a year, as price growth in the energy and services sectors slackened. Moreover, European Central Bank President Mario Draghi comments, citing that policymakers will provide more stimulus if inflation does not pick up intensified the selling pressure around the major.
The European currency traded 0.2 percent down at 1.1194, having touched a low of 1.1181 earlier, its lowest since June 3. Immediate resistance is located at 1.1258 (32.2% retracement of 1.1347 and 1.1202), a break above targets 1.1292 (61.8% retracement). On the downside, support is seen at 1.1172 (May 24 Low), a break below could drag it below 1.1141 (May 21 Low).
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