EUR/USD Remains Vulnerable Below 1.1300

EUR/USD Remains Vulnerable Below 1.1300

13 April 2016, 19:35
Roberto Jacobs

EUR/USD Remains Vulnerable Below 1.1300

EUR/USD has spent the last hours consolidating near 2-week lows following an over 100-pip slide.

The euro managed to recover a few pips following below-expectation US retail sales data, but dollar’s pullback short-lived and EUR/USD resumed the decline. The pair seems to have found interim support at the 1.1270 area and it was last trading at 0.90% below its opening price.

Later in the session, the Federal Reserve will publish the Beige Book, which collects information of the 12 Fed’s regional banks and it will be used for assessment in the next FOMC meeting.

EUR/USD levels to watch

In terms of technical levels, next supports could be found at 1.1272 (Apr 13 low), 1.1178 (50-day SMA) and 1.1144 (Mar 24 low). On the other hand, resistances line up at 1.1382/90 (10-day SMA/Apr 13 high), 1.1464 (2016 high, Apr 12) and 1.1494 (Oct 15 high).

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