The Euro pair fell to 1.1910 during US trading hours, after topping at 1.1967 at the beginning of the European session. Major currencies traded mixed but within close levels in a quiet start to the week. Optimism ruled in Asia after the release of upbeat Chinese figures.
On Tuesday, Germany will announce the March ZEW survey. The Economic Sentiment is seen improving in the country but weakening in the EU. The US will publish February Retail Sales, expected to have declined by 0.5% in the month after surging by 5.3% in the previous month. The country will also release February Industrial Production and Capacity Utilization.
Technically, the pair’s trades are confined within tight track since yesterday, moving below the EMA50 that forms negative pressure against the price, which keeps the bearish trend scenario valid for the upcoming period, which its targets begin by testing 1.1888.
The expected trading range for today is between 1.1850 support and 1.2000 resistance and the expected trend for today is Bearish.
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