- The pair extends the downside and tests the 1.16900 handle.
- EMU’s flash CPI is seen at 2.1% YoY in September.
- US PCE, Personal Income/Spending next on tap across the pond.
The daily decline in EUR/USD is now gathering extra steam and is now hovering over the key support at 1.1600 the figure.
EUR/USD now looks to US data
The pair is down for the third session in a row at the end of the week, shedding around 2 cents since recent tops above 1.1800 the figure.
The inability of the pair to sustain a break above the 1.1800 handle prompted sellers to step in, while the hawkish tone delivered by the Federal Reserve and positive US data as of late also collaborated with the downside.
EUR stays on the defensive after preliminary inflation figures in the euro area see consumer prices advancing at a yearly 2.1% in September, in line with initial estimates. Core prices, instead, are expected to rise 0.9% over the last twelve months, below prior surveys.
Later in the NA session, Personal Income/Spending plus PCE figures should grab all the attention ahead of the final reading of September’s Consumer Sentiment.
EUR/USD levels to watch
At the moment, the pair is losing 0.33% at 1.1603 and a breakdown of 1.1526 (low Sep. 10) would target 1.1508 (low May 29) en route to 1.1299 (2018 low Aug.15). On the flip side, the next up barrier aligns at 1.1815 (high Sep.24) seconded by 1.1853 (monthly high Jun.14) and finally 1.1944 (200-day SMA).