EUR/USD pares gains to test 1.1400 on poor Eurozone Sentix
- A sharp drop in Eurozone Sentix investor confidence, USD rebound knocks-off EUR/USD
- Risk-off in European equities lifts the safe-haven bids for the greenback.
The EUR/USD pair extends its retreat from two-week tops near 1.1440 region and now tests the 1.1400 level after the sentiment around the Euro was badly hit by awful Eurozone Sentix investor confidence numbers.
The gauge slumped to -0.3 in December vs. 8.3 expected and 8.8. The reading fell into negative territory for the first time since December 2014 amid Italian budget woes, French political climate and German economic slowdown fears.
The retreat in the spot was triggered by a broad-based US dollar rebound, as persisting risk-off action on the global stocks boosted the safe-haven demand for the US currency. The USD index extends its rebound from two-week lows of 96.37 to now trade near 96.70, up +0.16% on the day.
In the day ahead, fresh Italian and French political developments could impact the Euro while the USD dynamics is likely to remain the exclusive driver amid a data-sparse US docket today.
EUR/USD Technical Levels
Today Last Price: 1.1412
Today Daily change: 1.0 pips
Today Daily change %: 0.00876%
Today Daily Open: 1.1411
Previous Daily SMA20: 1.1353
Previous Daily SMA50: 1.1417
Previous Daily SMA100: 1.1515
Previous Daily SMA200: 1.1742
Previous Daily High: 1.1424
Previous Daily Low: 1.136
Previous Weekly High: 1.1424
Previous Weekly Low: 1.1311
Previous Monthly High: 1.15
Previous Monthly Low: 1.1216
Previous Daily Fibonacci 38.2%: 1.14
Previous Daily Fibonacci 61.8%: 1.1385
Previous Daily Pivot Point S1: 1.1373
Previous Daily Pivot Point S2: 1.1335
Previous Daily Pivot Point S3: 1.131
Previous Daily Pivot Point R1: 1.1437
Previous Daily Pivot Point R2: 1.1462
Previous Daily Pivot Point R3: 1.15