EUR/USD Comes Lower to Test 1.1330
The selling mood around the euro is growing bigger during the European morning, taking EUR/USD to the area of 1.1330, or daily lows.
EUR/USD focus on US data
The
pair is prolonging its leg lower after failing to sustain yesterday’s
advance to fresh 2016 highs in the vicinity of 1.1470. Increasing risk
appetite stemming from auspicious Chinese trade balance figures in March
keeps bolstering the prevailing risk-on sentiment and putting spot
under further pressure.
In the data space, February’s Industrial
Production in the euro region is due later, followed by US Retail Sales,
which area expected to have gained 0.1% during March.
EUR/USD levels to watch
The
pair is now losing 0.50% at 1.1326 and a break below 1.1312 (20-day
sma) would expose 1.1219 (38.2% Fibo of 1.0820-1.1465) and finally
1.1158 (55-day sma). On the other hand, the next hurdle lines up at
1.1465 (2016 high Apr.12) followed by 1.1496 (monthly high Oct.15 2015)
and then 1.1713 (high Aug.24 2015).
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