FXstreet.com (Barcelona) - The EUR/USD remains pressured as the week ends. Having plunged by 100 pips yesterday, the market found support at 1.3316 low and was pulled to 1.3350. Today, more downside momentum sent the pair back to those lows, printing a new February low at 1.3312. However, the EUR/USD is not ready to extend losses further. Maybe, not yet....

EMU trade surplus in December was narrowed from €13B (revised from €13.7B) to €11.7B, instead of ending at €13.1B as expected.

US industrial production and Reuters/Michigan consumer sentiment will be published during NY session: "For industrial production, we are above the market (+0.2%) in expecting that higher utilities output will contribute to a 0.4% advance", wrote TD Securities analyst Alvin Pontoh, expecting modest improvement in consumer confidence, with the index increasing to 76.0 from 73.8 (market: 74.8).

"Near-term bears keep the downside favored, with bounce off yesterday�s low at 1.3313, seen corrective, with rally being capped under psychological 1.3400 barrier at Fib 38.2% of 1.3518/1.3313 downleg and 55 day EMA", wrote Windsor Brokers analyst Slobodan Drvenica, excpecting fresh extension below 1.3300/1.3265 breakpoint, and risking a drop to 1.3170, 17 Sep previous high. "Further recovery cannot be ruled out, with Fibonacci barriers at 1.3415/40, 50% / 61.8%, seen on a lift above 1.3400, but only break above 1.3500 will neutralize bears", he added.