FXstreet.com (Córdoba) – The Euro is under pressure across the board and fell to fresh daily lows against the Dollar after a better-than-expected reading on US New Home Sales. EUR/USD fell to 1.2230 and extended its decline from 1.2388 (yesterday’s high).
Currently the pair trades at 1.2240/45, 1.08% below today’s opening price. To the downside support levels lie at 1.2230 (session low) and below at 1.2175/80 (May 25 low) and 1.2140 (May 19 low).
The Euro also fell further against the Pound. EUR/GBP broke below 0.8530 and tumbled to 0.8500, reaching a fresh 1-week low.
US New Home Sales have soared 14.8% in April to a annual rate of 502,000 units, the largest rate since the 504,000 units in May 2008, beating expectations of an increase of about 3.0%.
