Daily Recommendations on Major - EUR/USD
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Update Time: 03 Apr 2019 05:30 GMT
EUR/USD - 1.1216
The single currency's fall yesterday and break of Friday's low at 1.1210 to 1.1184 suggests a re-test of March's 20-montht rough at 1.1177 is forthcoming after consolidation, break would extend marginally, however, loss of momentum would prevent sharp move beyond and risk would increase for a much-needed correction later this week.
On the upside, only above 1.1286 would indicate a temporary low has been made and risk stronger correction to 1.1327/32 but resistance at 1.1392 should remain intact.
There is a slew of services PMIs out from the eurozone today but pay attention to the release of EU retail sales mm and yy at 09:00GMT.
Street forecasts are 0.2% and 2.3% vs previous readings of 1.3% and 2.2% respectively.
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