EURUSD LOSSES LIKELY BELOW KEY SUPPORT
The euro remains under selling pressure against the greenback in early Thursday trading, following better than expected U.S economic data and continued strength in the U.S dollar index. The EURUSD pair currently sits around the 1.2275 support level, with intraday buying interest in the single currency currently muted. Traders now look towards the release of March Manufacturing and Retail Sales data from the Eurozone economy.
The EURUSD pair is strongly bearish whilst trading below the 1.2275 level, short-term support is currently located at the 1.2252 and 1.2239 levels.
If the EURUSD pair holds above the 1.2275 level, buyers will likely test towards the 1.2300 and 1.2314 resistance levels.