EUR/USD: The euro consolidated near 2-week low as investor sentiment weakened following Washington’s threat of tariffs on $4 billion of additional European Union goods in a long-running dispute over aircraft subsidies. The European currency traded flat at 1.1285, having touched a low of 1.1275 on Tuesday, its lowest since June 20. Investors’ attention will remain on a series of data from the Eurozone economies, EZ Markit service PMI, ahead of the U.S. trade balance, unemployment benefit claims, factory orders and service PMI by both Markit and ISM. Immediate resistance is located at 1.1327 (38.2% retracement of 1.1412 and 1.1275), a break above targets 1.1360 (61.8% 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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