FXstreet.com (Barcelona) - Late Chinese data is again spurring risk aversion: slower growth pace in the industrial production plus weak export and import figures despite the trade surplus have been playing against an extension of the rally sparked on Friday after the poor data out of August’s NFP.
The bloc currency is trading in levels sub 1.2800 at the beginning of the week, ahead of the Sentix investor Confidence index in the euro zone for the month of September. Expectations are for a hair of improvement to -29.6 from -30.3
At the moment the cross is down 0.10% at 1.2785 with the next support at 1.2700 (psychological level) followed by 1.2665 (hourly low Sep.7) then 1.2632 (broken Up Trendline from 2011) and 1.2570 (MA10d).
On the flip side, a break above 1.2820 (high May 22) would bring 1.2830 (weekly ATR top) then 1.2840 (MA200d) and 1.2870 (high May 15).
The bloc currency is trading in levels sub 1.2800 at the beginning of the week, ahead of the Sentix investor Confidence index in the euro zone for the month of September. Expectations are for a hair of improvement to -29.6 from -30.3
At the moment the cross is down 0.10% at 1.2785 with the next support at 1.2700 (psychological level) followed by 1.2665 (hourly low Sep.7) then 1.2632 (broken Up Trendline from 2011) and 1.2570 (MA10d).
On the flip side, a break above 1.2820 (high May 22) would bring 1.2830 (weekly ATR top) then 1.2840 (MA200d) and 1.2870 (high May 15).
