EUR/USD Falls Further, Near 1.1330

EUR/USD Falls Further, Near 1.1330

13 May 2016, 10:24
Roberto Jacobs

EUR/USD Falls Further, Near 1.1330

The common currency keeps on the defensive today, with EUR/USD testing lows in the vicinity of 1.1330.

EUR/USD weaker ahead of US data

The pair is navigating 2-week lows in the area of 1.1330, intensifying its downside from recent peaks in the 1.1450 region following a pick-up in the demand for the greenback and renewed selling pressure around EUR.

Data wise, German final inflation figures for the month of April have matched estimates, while the GDP has come in mixed. In the broader euro area, advanced Q1 GDP figures are due next. Across the pond, April’s Retail Sales and consumer sentiment tracked by the Reuters/Michigan index will take centre stage in the NA session.

EUR/USD levels to watch

The pair is now losing 0.27% at 1.1345 and a break below 1.1264 (55-day sma) would expose 1.1213 (low Apr.25) and finally 1.1142 (low Mar.24). On the other hand, the next hurdle lines up at 1.1448 (high May 11) ahead of 1.1615 (2016 high May 3) and then 1.1713 (high Aug.24 2015).


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