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EUR / USD plummets from day highs to 1.1830 zone

  • European currencies reverse trend against the dollar and fall sharply.
  • EUR / USD loses more than 50 pips since Tuesday’s peak.

The EUR / USD tumbled to 1.1830, hitting the lowest level since Friday and approaching the recent low near 1.1800. Hours ago, the euro had climbed to the highest in six days at 1.1895.

European currencies weakened significantly in recent hours, erasing the day’s gains and a bit more. This change did not have a clear factor behind it, since the dollar, despite this advance, is falling against those linked to commodities and several of emerging markets.

Activity on Wall Street today will return to normal after Monday’s holiday. The economic calendar shows as important data to be published the final June reading of the IHS Markit of the sector of services and then the ISM of the same sector.

Traders are also keeping an eye on the bond market, where the US 10-year rate is at a minimum of 1,419%, the lowest since June 21. On Wednesday the minutes of the last meeting of the Federal Reserve.

Technical levels

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