Some might see the rather sharp decline in Euro zone March Consumer Confidence headlines readings as justification for the range down extension this morning. In fact, German inflation readings overnight were also rather muted and perhaps that has added to the negative view toward the Euro. Sharply falling yields on Euro instruments this week, has been another factor channeling money away from the Euro. Near term downside targeting is seen down at 1.3663. In order to turn the down trend pattern around, probably requires a rally back above 1.3751.
