European stock markets pushed lower to start the day, weighed by further signs of economic weakness in Germany, the region’s industrial powerhouse.
German exports plunged by 24% in April, worse than expected. The US dollar is on the part recovery and stocks are taking a breather. The European Central Bank called on governments to act and speculation about Wednesday's Fed decision is on the rise.
EUR/USD is trading below 1.13, within range. EUR/USD continues trading above the 50, 100, and 200 Simple Moving Averages, while momentum remains positive. The Relative Strength Index is below 70, outside overbought conditions.