EUR/USD Depressed Near 1.1340 ahead of US Data
The European currency keeps its negative note today, sending EUR/USD to the lower bound of the range in the 1.1340 area.
EUR/USD focus on US docket
The pair remains entrenched in the negative territory at the end of the
week, meandering 2-week lows in the 1.1340/30 region amidst a strong
sentiment around the US dollar.
Previously, in-line consumer prices and mixed GDP figures in Germany
have been largely ignored by market participants, while disappointing
EMU’s GDP figures for the first quarter have failed to lend some support
to EUR.
In the US calendar, Retail Sales, Business Inventories and the Reuters/Michigan index are all due later.
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).
