Investing.com – The euro dropped against the U.S. dollar on Tuesday, after data showed that German investor and analyst sentiment tumbled unexpectedly in June.
EUR/USD fell to hit 1.2174 during European morning trade, a daily low; the pair subsequently consolidated at around 1.2192, shedding 0.23%.
The pair was likely to find support at 1.2045, Friday’s low and resistance at 1.2562, the high of May 26.
Earlier Tuesday, the ZEW research center said its closely watched index of German economic sentiment plunged to 28.7 during the month, down from April's reading of 45.8. Economists had expected May's reading to come in at 48.7.
Meanwhile, the euro was up against the pound with EUR/GBP gaining 0.01% to hit 0.8289.
Later in the day, the Federal Reserve Bank of New York was due to publish key data manufacturing activity in New York state.
The U.S. Treasury was also due to publish its TIC Long-Term purchases report, which measures the difference in value between foreign long-term securities purchased by U.S. citizens and U.S. long-term securities purchased by foreigners.
EUR/USD fell to hit 1.2174 during European morning trade, a daily low; the pair subsequently consolidated at around 1.2192, shedding 0.23%.
The pair was likely to find support at 1.2045, Friday’s low and resistance at 1.2562, the high of May 26.
Earlier Tuesday, the ZEW research center said its closely watched index of German economic sentiment plunged to 28.7 during the month, down from April's reading of 45.8. Economists had expected May's reading to come in at 48.7.
Meanwhile, the euro was up against the pound with EUR/GBP gaining 0.01% to hit 0.8289.
Later in the day, the Federal Reserve Bank of New York was due to publish key data manufacturing activity in New York state.
The U.S. Treasury was also due to publish its TIC Long-Term purchases report, which measures the difference in value between foreign long-term securities purchased by U.S. citizens and U.S. long-term securities purchased by foreigners.