The euro fell to its lowest level against the dollar in the month of May, as a raft of promising U.S. economic data coincided with continuing fears of a Greek exit from the European Union. EUR/USD fell to an intra-day low of 1.0863, its lowest level since April 28, before slightly rebounding to settle at 1.0879, down 0.0099 or 0.90%. The pair traded in a wide range of 1.0863 and 1.0981 on a choppy day of trading. The euro has now fallen against its American counterpart in eight of nine sessions and is down more than 4.75% since reaching a three-month high at 1.11467 on May 15. While U.S. durable goods orders fell slightly by 0.5% in April, the decline was less sharp than a projected 0.6% loss by analysts. The figure was tamped down by a 4% decline in commercial airlines and 3.4% dip in computer orders.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5368 TARGET 1.5388 1.5418 SL 1.5338
SELL GBP/USD BELOW 1.5342 TARGET 1.5322 1.5292 SL 1.5372
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