EUR/USD: The euro eased, hovering towards a 2-1/2 week low hit in the previous session, after data showed investor morale in the euro zone deteriorated further in July, confounding expectations for a rise. Moreover, the selling pressure intensified following comments from Annegret Kramp-Karrenbauer, leader of Germany’s Christian Democrats (CDU), stating that the European Central Bank’s low-interest-rate policy was causing problems for savers and thought should be given to reduce its duration. The European currency traded flat at 1.1220, having touched a low of 1.1207 on Friday, its lowest since June 19. Immediate resistance is located at 1.1256 (23.6% retracement of 1.1412 and 1.1207), a break above targets 1.1310 (50.0% retracement). On the downside, support is seen at 1.1203 (June 17 Low), a break below could drag it below 1.1160 (June 3 Low).
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