Soft German employment and low inflation along with good growth in US GDP are punishing EUR/USD today. The pair is now down 110 pips on the day to 1.3226. It’s the worst one-day loss since a 115 pip drop on May 2.
The August lows of 1.3206 and 1.2990 are major support and the pair has jumped from tests of these levels in the past. The stronger demand is said to be in the 1.3200/05 area with sell stops below.
EURUSD daily chart
