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EUR/USD drops to 1.1180


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FXStreet (Edinburgh) – The shared currency is accelerating its downside at the end of the week, rapidly dragging EUR/USD to session lows in the proximity of 1.1180.

EUR/USD weaker as USD wakes up


A wave of USD-buying keeps hurting the pair following the releases in the US economy. Recall that both the ISM Manufacturing and the Reuters/Michigan index came in below expectations albeit matching the previous print.


In addition, market participants seem to be cashing up part of the recent strong gains in the pair, collaborating with the downside.


EUR/USD key levels


At the moment the pair is retreating 0.16% at 1.1205 and a drop below 1.1184 (low May.1) would expose 1.1125 (daily cloud top) and finally 1.1072 (low Apr.30). On the upside, the immediate hurdle aligns at 1.1291 (high May 1) followed by 1.1380 (high Feb.26) and then 1.1389 (high Feb.25).