The monthly economic sentiment report from Germany fell to -2.1 unexpectedly in May. This was below the estimated increase to 5.1. The decline in the sentiment index for May ends a six-month trend of improvements in the index. The eurozone industrial production was down 0.3% matching estimates.
Euro Trades Weaker for a Second Consecutive Day
The common currency was trading weaker for the second daily session in a row. This comes after price briefly touched the resistance level of 1.1250. Following the breach of the minor rising trend line, price is attempting to rebound. A bullish close above the doji on the 4-hour chart could see the EURUSD attempting to retrace the recent losses.
