The Euro fell yesterday, weighed by negative EU data

Fxstreet.com
FXstreet.com (Barcelona) – The Euro devaluated yesterday against the Dollar to recover partially on today’s Asian session, however, Cornelius Luca, economist at Global Forex Trading, advances further decline for today: “Following some early recovery, the decline should resume. Initial support now comes from a new pivot low at 1.5449. Further support follows at 1.5420. Distant support is at 1.5305.”

On the upside, resistance levels stand as follows: “Immediate resistance is at 1.5517. This is followed by 1.5580 and 1.5630. Above 1.5700, distant resistance is 1.5770 from a Fibonacci retracement level.”