EUR/USD Depressed Around 1.1350, US Data Eyed

EUR/USD Depressed Around 1.1350, US Data Eyed

5 April 2016, 13:54
Roberto Jacobs
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EUR/USD Depressed Around 1.1350, US Data Eyed

The common currency remains on the defensive on Tuesday, with EUR/USD trading in the area of daily lows near 1.1350.

EUR/USD now looks to US releases

The pair has started the week on a negative note, retreating for the second consecutive session after being rejected from fresh 2016 tops near 1.1440 last Friday.

A renewed buying interest around the dollar could be behind today’s downside, ahead of the US calendar, which includes ISM Non-manufacturing, Markit’s Services PMI, February’s Trade Balance figures and the API’s report.

EUR/USD levels to watch

The pair is now down 0.31% at 1.1355 and a break below 1.1291 (23.6% Fibo of 1.0820-1.1437) would target 1.1254 (20-day sma) en route to 1.1142 (low Mar.24). On the other hand, the initial hurdle aligns at 1.1437 (2016 high Apr.1) ahead of 1.1496 (monthly high Oct.15 2015) and then 1.1713 (high Aug.24 2015).

(Market News Provided by FXstreet)

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