EURUSD dropped on Friday and closed at 1.2996. The Unemployment Rate in the Eurozone rose to a record high of 12.2 percent in April. The Consumer Price Index in the EU rose 1.4 percent on an annual basis in May. In the United States the Chicago Purchasing Managers Index rose to a reading of 58.7 in May. Support for the EURUSD is seen at 1.2951 and resistance is seen at 1.3055. The HotForex Traders Board shows that 60 percent of the traders are short on the EURUSD.
GBPUSD
The Cable dropped on Friday and closed at 1.5195. The M4 Money Supply in the United Kingdom rose 0.3 percent in April. The number of Mortgage Approvals rose to 53.7K in April. In a release today the Manufacturing PMI rose to a reading of 51.3 in May. Support for the GBPUSD is seen at 1.5158 and resistance is seen at 1.5283. The HotForex Traders Board shows that 53 percent of the traders are short on the GBPUSD.
EURUSD trading higher in the European session. ISM Manufacturing PMI from the United States due today.
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