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9 Jan 2015
EUR/USD posts fresh daily lows, German Factory Output disappoints
FXStreet (Mumbai) - The single currency slipped against the US dollar in the early European morning, after factory output in Germany slid into negative territory in November.
Currently, the EUR/USD pair trades flat at 1.1795 levels, close to fresh daily lows hit at 1.1790 levels few minutes ago. EUR/USD fell after data revealed indicated deteriorating conditions in the Euro zone’s economic powerhouse’s industrial sector in November, after advancing for two successive months.
Industrial output in the euro zone's economic powerhouse declined 0.1% in November, reporting a revised 0.6% growth in October, against expectations of a 0.3% rise.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.19 levels, above which gains could be extended to 1.1969 (Jan 6 High) levels. On the flip side, support is seen at 1.1753, below which it could extend losses to 1.17 levels.
Currently, the EUR/USD pair trades flat at 1.1795 levels, close to fresh daily lows hit at 1.1790 levels few minutes ago. EUR/USD fell after data revealed indicated deteriorating conditions in the Euro zone’s economic powerhouse’s industrial sector in November, after advancing for two successive months.
Industrial output in the euro zone's economic powerhouse declined 0.1% in November, reporting a revised 0.6% growth in October, against expectations of a 0.3% rise.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.19 levels, above which gains could be extended to 1.1969 (Jan 6 High) levels. On the flip side, support is seen at 1.1753, below which it could extend losses to 1.17 levels.