EUR/USD: The euro declined to a near 2-week low after the European Central Bank policymakers stated the Eurozone inflation remains unacceptably low and the ECB will ease policy further if necessary to boost price pressures. The European currency traded 0.05 percent down at 1.1280, having touched a low of 1.1275 earlier, its lowest since June 20.
Investors’ attention will remain on a series of data from the Eurozone economies, EZ producer price index, ahead of the U.S. ISM – NY business conditions index and Fed William’s speech. Immediate resistance is located at 1.1308 (23.6% retracement of 1.1412 and 1.1275), a break above targets 1.1343 (50% retracement). On the downside, support is seen at 1.1251 (June 7 Low), a break below could drag it below 1.1203 (June 17 Low).
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