The currency pair declined last week and has broken the support at 1,1285. The pressure on EUR/USD is due to the Eurozone data and Brexit.
US GDP data was revised to 2,2%. Previous reading was 2,6%. Economists expected the US GDP to be 2,4%. As for the Consumer Confidence in the United Stated, it is declined to 124,1. Previous reading was 131,4. Economists expected the indicator to grow towards 132,1.
This is all about the important events last week. What to expect from EUR/USD this week? The currency pair has almost reached its previous low. We think that it is going to reach this low in the nearest future. There it is better to look for the signals. We expect EUR/USD to reverse towards the closest resistance area at 1,1285. However, if EUR/USD breaks down previous low, the next important level will be at 1,0980.
