EUR/USD takes another step lower on poor German Retail Sales data. Subdued consumer spending levels in Germany increase the probability the ECB will cut interest rates soon. This contrasts with the US, where Fed officials are advocating a delay in rate cuts. EUR/USD edges down on Thursday, retesting key support at 1.0800, after the release of subpar German Retail Sales data raised further concerns over the health of Europe’s largest economy, weighing on the Euro .
0750, followed by the February lows at roughly 1.0700. A decisive break is one characterized by a long red bearish candle that breaks cleanly through the level and closes near its low, or three down candles in a row that breach the level. Alternatively, a move above the 1.0950 level would bring into question the validity of the short-term downtrend. Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone.
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