Today, the euro went lower against the American dollar, as increasing uncertainty over Spain and Greece weighed. However, losses were limited following the report of the positive Chinese manufacturing data.
The currency pair EURUSD reached the level of 1.2932 during late Asian trade; later on the pair stayed firm at 1.2933.
EURUSD is supposed to find support at 1.2885, which is today’s bottom, and resistance at 1.3019,the highest level from Wednesday.
The single currency remained under pressure due to the unstable position of Spain, which is about to ask for a bailout and the possibility for Greece to secure the next tranche of its bailout funding.
The euro was under the pound, with EURGBP reaching the level of 0.8020, but the single currency pushed higher against the yen, with EURJPY heading to 103.47.
America is expected to show the ADP report on nonfarm payrolls later today, as well as the weekly government report on initial jobless claims.
Besides, the Institute of Supply Management is about to publish data on U.S.A. manufacturing activity.