Data released pre-market today shows a further drop in the European Investor Confidence Index (a leading indicator of economic health), as shown on the graph below (graph provided courtesy of www.forexfactory.com). It has reached pessimistic levels last seen in July 2009: http://www.forexfactory.com/#details=33618
The EUR/USD is currently trading below a major resistance level of 1.35, as shown on the 4-Hour chart below...recent attempts to hold above this level have failed.
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