Key Highlights
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Euro traded down this past week against the US Dollar after consolidating for some time.
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There was a major support area around $1.1340, which was broken to clear the way for more downsides in EURUSD.
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In China, the hosing price index, released by the National Bureau of Statistics posted an increase of 4.9% in March 2016.
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New Zealand Consumer Price Index released by the Statistics New Zealand posted a rise of 0.2% in Q1 2016, more than the forecast.
EURUSD Technical Analysis
The Euro closed this past week on the negative note against the US Dollar, as it broke a major support area of 1.1340. The EURUSD pair traded down and tested the 1.1240-20 support area.
It is currently attempting a recovery, but facing sellers near a resistance trend line formed on the hourly chart. As long as the pair is below the 1.1320-40 area, there is a chance of it moving down once again.
On the downside, the 1.1240 support holds the key, as a break of it may call for a move towards the 1.1180 level.
Chinese HPI
Earlier during the Asian session, the Chinese hosing price index was released by the National Bureau of Statistics. The outcome was above the expectation, as the Chinese HPI increased by 4.9% in March 2016.
The risk sentiment was unmoved after the release, and the Euro was seen facing offers near $1.1300.
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