EURUSD At 8-Month Low

The Euro is trading at an 8-month low in today's trading session. Fundamentals and technicals combined are the reason for eurusd to trade as low as 1.0600. This is the lowest since April 15 this year when the pair was in a bullish trend since March 16.

This time, however, the end is nowhere to be found as Europe does not have anything to offer which could back up their currency. The US Dollar is bound to thrive in such case.

First level of support is seen at 1.0550. First resistance is to be found at 1.0700.

Chart: EURUSD D1