EC: Forex trends euro shows mixed trading amid various economic reports
During early European session Tuesday, the single currency showed mixed trading against its main opponents amid various economic reports. Gaining from a 5-day low against the pound, euro recovered a few pips from a 4-day low against the dollar. At the same time, the euro plummeted to a new multi-month low against the yen, but it showed choppy trading against the Swiss franc.
The euro bounced between 1.4708 and 1.472 against the Swiss franc in early deals on Tuesday. The next downside and upside target levels for EUR/CHF pair are seen at 1.468 and 1.475, respectively. At yesterday's close, the pair was quoted at 1.4716.
The euro that plummeted to a 5-day low of 0.8669 against the pound at 3:35 am ET Tuesday bounced back thereafter. At present, EUR/GBP pair is worth 0.8740, up from yesterday's close of 0.8713. If the euro climbs further, it may target the 0.880 level.
At 4:30 am ET Tuesday, the euro touched 125.96 against the yen, its lowest level since April 28. On the downside, 125.0 is seen as the next target level for the euro. EUR/JPY pair is currently trading at 126.2, compared to 127.76 hit late New York Monday.
The euro that slipped to a 4-day low of 1.4073 against the dollar at 1:35 am ET Tuesday recovered slightly thereafter and moved sideways. Presently, EUR/USD rally is worth 1.411, compared to Monday's closing value of 1.4152.