The pair is currently trade near session lows at 1.3064 from previous weekly close Friday at 1.3112, on the back of a broad USD and Yen bid move. The EUR is down -0.32% so far for the session, following a massive sell-of in Gold, Silver and Oil. China data came in lower than expected with GDP at +7.7% vs +8%, rising fears of a global economic slow down, while all local share markets trade in the red, with Nikkei index down -1.49% and Hang-Seng -1.62%. Oil is also -1.62% down for the session so far, coupled with US futures at fresh session lows. Immediate support to the downside for EUR/USD lies at recent session lows 1.3064, followed by Thursday’s/Friday’s lows at 1.3043/36, and Feb 26 lows at 1.3014. To the upside, closest resistance shows at Thursday’s NY session lows 1.3083, followed by recent session highs at 1.3120, and Friday’s highs at 1.3130.
EasyForexNews Research Team