EUR/USD breaks down to fresh lows

FXStreet (San Francisco) - The euro was unable to test the 1.2600 area against the dollar since the EUR/USD found new selling interest at 1.2590 and, following US personal income and spending data, the pair was sent down to new lows below 1.2520.

Currently, EUR/USD is trading at 1.2526, down 0.70% on the day, having posted a daily high at 1.2618 and low at 1.2515. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bearish.

EUR/USD levels

As the pair is trading at lows since October 6 at 1.2515, it will find next supports at 1.2500, 1.2470 and 1.2420. To the upside, 1.2590, 1.2600 and 1.2630 are resistances.