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).