EUR/USD hits fresh 2-month lows

EUR/USD extended losses to fresh 2-month lows on Tuesday as the dollar strengthened further across the board while the shared currency was weighed by mixed German ZEW readings.

EUR/USD slid below the 100-day SMA (1.1160) and touched its lowest level since March 28 at 1.1156 in recent dealings. At time of writing, the pair is trading at 1.1164, recording a 0.5% loss on the day.

EUR/USD technical levels

In terms of technical levels, immediate supports are seen at 1.1102 (200-day SMA/psychological level) and 1.1057 (Mar 16 low). On the flip side, resistances line up at 1.1242 (May 23 high), 1.1315 (50-day SMA/May 18 high) and 1.1348 (20-day SMA).