EURUSD dropped on Friday and closed at 1.2836. The Construction output in the Eurozone dropped 1.7 percent month over month in March. On the other side of the ocean the Consumer Sentiment Index in the United States rose to a reading of 83.7 in May. The US dollar strengthened against its counterparts after talks that the United States Federal Reserve may stop its bond buying program. Support for the EURUSD is seen at 1.2811 and resistance is seen at 1.2921. The HotForex Traders Board shows that 57 percent of the traders are long on the EURUSD.
GBPUSD
The Cable dropped on Friday and closed at 1.5168. The Rightmove House Price Index in showed an improvement in the house market in the United Kingdom. The House Price Index in the UK rose 2.5 percent on an annual basis in May. With the lack of economic releases from the UK and the United States today we expect a low volatility day on the pair. Support for the GBPUSD is seen at 1.5162 and resistance is seen at 1.5259. The HotForex Traders Board shows that 71 percent of the traders are long on the GBPUSD.
EURUSD trading higher in the European session. Light economic calendar today.
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