EUR USD analysis: Euro slides after downbeat Sentix report

ForexNewsNow | Published on September 6, 2010 at 4:37 am

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EUR USD analysis - a pile of eurosNEW YORK (Forex News Now) – The euro slid against the dollar on Monday, snapping a 4-day ascent, after a report showed that euro zone investor confidence slid unexpectedly in September.

In European midday currency market trading, EUR/USD struck 1.2873, down 0.18 percent on the day.

The Sentix research group said its Investor Confidence Index fell to 7.6 during the month, down from a revised 8.2 in August. Analysts had expected an increase to 8.7 in September, two global forex news outlets reported.

According to EUR USD analysis, EUR/USD was likely to touch support around the low of Aug. 31, 1.2625, and encounter immediate resistance around the high of July 26, 1.3006.

The euro’s losses also came after Labor Department data showed that U.S. private payrolls climbed 67,000 in August after a revised 107,000 increase in July.

Elsewhere, the euro climbed versus sterling: EUR/GBP traded at 0.8382, up 0.43 percent, according to intraday analysis.



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