EUR/USD breaks below 1.0300 as US strength overshadows weak EU data
EUR/USD has declined for three consecutive sessions, breaking below the psychologically important 1.0300 level as robust US economic data continues to support dollar strength. The pair fell 0.4% to 1.0285, marking a fresh monthly low amid contrasting economic outlooks between the US and Eurozone. Strong US labor market indicators and resilient consumer spending data have reinforced expectations for sustained Fed hawkishness, while softer European manufacturing and services PMIs point to economic weakness. The technical breakdown below 1.0300 opens the path toward 1.0250 support, with the 100-day moving average providing the next major floor at 1.0220. Resistance now sits at the broken 1.0300 level, which may act as a ceiling on any corrective bounces. The bearish momentum is likely to persist unless European data shows unexpected improvement or US indicators disappoint significantly.
Related Symbols:
EURUSD
This is a summary of the original article by forexcrunch.com. To read the complete article, please visit the source website:
Read Full Article at forexcrunch.comNews data provided by Marketaux. ForexSentiment.live provides this summary as a convenience with proper attribution to the original source. The full article is available at the original publisher's website.
