Dismal Eurozone data refuel global growth worries. The Euro hammered broadly alongside risk assets. Some consolidation likely ahead of US economic releases. The bears appear to have taken a breather last hour, allowing a brief consolidative mode in the EUR/USD pair near the midpoint of the 1.12 handle, as they await the US macro releases for the next push lower. The spot stalled its sell-off but remains within a striking distance of fresh weekly lows reached at 1.1244 after the much-awaited German and Eurozone manufacturing PMI numbers disappointed markets and re-ignited Euro area growth concerns that intensify global economic slowdown fears. On the data release, the Euro eroded as much as 50-pips against its American counterpart and finally broke its range trade around the 1.13 handle witnessed so far this week. From a technical perspective, the major remained exposed to downside risks given the repeated failure to close above the 1.13 handle and the double top formed at the 1.1325 key resistance. As explained by Haresh Menghani, FXStreet’s Analyst, “oscillators have been gaining negative traction on 4-hourly/daily charts but are already pointing to slightly oversold conditions on the 1-hourly charts, warranting some consolidation. However, the set-up now seems to have turned firmly in favor of bearish traders and hence, a follow-through weakness, towards testing the 1.1200 mark, remains a distinct possibility.” Looking ahead, all eyes remain on the US data flow, including the key retail sales, Philly Fed manufacturing gauge and jobless claims, for further trading momentum, as the US dollar remains in weekly tops vs. its major peers amid souring risk appetite. EUR/USD Technical Levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Focus on retail sales today – TDS FX Street 4 years Dismal Eurozone data refuel global growth worries. The Euro hammered broadly alongside risk assets. Some consolidation likely ahead of US economic releases. The bears appear to have taken a breather last hour, allowing a brief consolidative mode in the EUR/USD pair near the midpoint of the 1.12 handle, as they await the US macro releases for the next push lower. The spot stalled its sell-off but remains within a striking distance of fresh weekly lows reached at 1.1244 after the much-awaited German and Eurozone manufacturing PMI numbers disappointed markets and re-ignited Euro area growth concerns that intensify global economic slowdown… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.