EURUSD dropped yesterday and closed at 1.3745. The single European currency lost strength after the Director General of Bank of Italy Luigi Signorini indicated that the economic growth of Italy will be worse than the government forecast. On the other hand the Governing Council of the European Central Bank Ewald Nowothy stated that he doesn’t see chances of cutting the interest rates in the near future. He also added that ECB doesn’t have any tools to that could use to easy the bullish pressure on the Euro. Investors are now looking forward for the ADP Non-Farm Employment Change release and the FOMC Statement due later today. Support for the EURUSD is seen at 1.3733 and resisntace is seen at 1.3830. The HotForex Traders Board shows that 65 percent of the traders are short on the EURUSD.
EURUSD trading lower ahead of the ADP Non-Farm Employment Change. Eyes on the FOMC Statement.
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