The euro traded in proximity to two-week lows against the US dollar during late phase of US session, after the Institute for Supply Management (ISM) reported that its index of manufacturing activity climbed to the highest level since April 2011, while the euro was still pressured by prospects of a potential rate cut by the European Central Bank (ECB).
Having touched a session low at 1.3480 at 14:55 GMT, the pair’s lowest point since October 16th, EUR/USD closed at 1.3492 on Friday, falling 0.68% for the day. Support was likely to be found at October 16th low, 1.3474, while resistance was to be encountered at Friday’s high, 1.3581.
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