EUR/USD

February 06, 2019

EUR/USD: The euro slumped to a 1-1/2 week low after data showed weaker demand from abroad unexpectedly dragged down German industrial orders in December, indicating that factories in Germany are shifting into lower gear due to a slowing world economy. The European currency traded 0.1 percent down at 1.1397, having touched a high of 1.1514 on Thursday, its highest since Jan. 11. Immediate resistance is located at 1.1474 (December 21 High), a break above targets 1.1540 (January 11 High). On the downside, support is seen at 1.1370 (Jan. 17 Low), a break below could drag it till 1.1353 (Jan. 18 Low).

EUR/USD daily chart

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