EURUSD dropped yesterday and closed at 1.3700. The Producer Price Index in Germany dropped to a reading of -0.1 percent in April. The President of the United States Federal Reserve in Philadelphia Charles Plosser projected an earlier than expected rise in the inflation rate and urged the central bank to taper the size of the stimulus program at a faster pace.
Data released today showed that the Current Account in the Eurozone fell to 18.8B in March. The pair tested the previous lows near the 1.3650 in the late European session. Investors are now looking forward for the FOMC Meeting Minutes due later today.
Support for the EURUSD is seen at 1.3650 and resistance is seen at 1.3724.
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EURUSD dropped sharply in the European session. FOMC Meeting Minutes on focus.
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