[Latest Forex News] EURUSD weaker, flirting with 2 year lows near 1.0900

Latest news on the EURUSD pair by CMRFOREX.

The shared currency remains depressed so far this week, taking EURUSD to 1.0900 on a 2-year lows.

EURUSD MAY BREAK BELOW 1.0900

The EURUSD is down for third consecutive session this Friday, coming under extra downside pressure on the back of the solid performance of the Greenback, which trades at shouting far aways beyond 99.00 the figure gauged by the US Dollar Index (DXY).

Headlines from the US-China trade front as of late have pushed yields and sparked a sell presuure in safe havens, pushing USDJPY higher and thus lending extra legs to the buck's rally.

What to look for around EUR

EUR dropped to new 2-year lows in levels just above 1.09 the figure earlier today, as investors' sentiment remain sour and without any hint of getting any better in the near term at least. Following Monday's results from PMI'S the economic outlook in the region deteriorated further, with the added possibility that Germany could enter into a technical recession in the third quarter.

US tariffs on imports of the EU cars remain well on the table, while persistent uncertainty around Brexit and UK politics adds to the gloomy scenario.

EURUSD levels to focus on.

At the moment, the pair is down 0.10% at 1.0909 and a breach of 1.0904 (2019 low Sep 3) would target 1.0839 (monthly low May 11, 2017) and finally to 1.0569 ( monthly low April 10, 2017). On the upside, the next hurdle aligns at 1.1009 followed by 1.1109 as in Sep, 13.

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