EURUSD SOLD AGAIN AFTER WEAK EUROZONE DATA
The euro has reversed back towards the 1.1950 level against the U.S dollar, after the eurozone economy posted weaker than expected monthly Retail Sales and Manufacturing data. The EURUSD pair currently trades around the 1.1960 level, after being sold from just below the 1.2000 handle earlier today. Traders now await the U.S Nonfarm Payrolls Job report, which should provide market moving volatility before the May Bank Holiday weekend.
The EURUSD pair remains bearish while trading below the 1.2000 level, key technical support is now found at the 1.1936 and 1.1884 levels.
If the EURUSD pair starts to trade back above the 1.2000 level, buyers may be inclined to test the 1.2013 and 1.2053 resistance levels.