EUR/USD retreated to multi-month lows of 1.1720. The dismal ZEW survey data of the Eurozone further fueled the selling. Further fresh impetus will be provided by the US non-farm productivity, labor cost and US CPI. The EUR/USD price retreated downward again after moving sideways around 1.1750 during Tuesday’s Asian session, reaching 1.1716, its lowest level since late March. As a result, the EUR/USD exchange rate is down 0.15% for the day at 1.1720 at the moment of writing. –Are you interested to learn more about automated forex trading? Check our detailed guide- The disappointing ZEW survey results for the Eurozone seem to have pressured the common currency on Tuesday. The Economic Sentiment Index for the Eurozone fell from 61.2 in July to 42.7 in August, which was well above the market expectation of 72 points. Furthermore, German economic sentiment fell from 63.3 to 40.4. The relentless strength of the dollar, on the other hand, makes EUR/USD’s loss exceedingly difficult to contain. At 93.06, the US dollar index is highest since July 21, up 0.1% for the day. Get FREE Forex Signals Now! The US economic summary will present non-farm productivity and unit labor costs for the second quarter later in the session. In addition, Wednesday will be an important day for the US Bureau of Labor Statistics, which will release consumer price index (CPI) data for July. EUR/USD technical analysis: Bearish bias is evident EUR/USD 4-hour price chart analysis The average daily range for the pair has squeezed to 56 pips for the last twenty trading days. Today, the pair has so far moved 27 pips, maintaining a rangebound behavior with greater bias on the lower side. The pair is near the key support of March 31 swing lows of 1.1720. If broken, the pair may lead the price towards 1.1660 ahead of 1.1610 (November 04, 21 lows). –Are you interested to learn more about forex signals? Check our detailed guide- The volume is clearly on the bearish side. The pair can find interim support near the the1.1700 area. But there is no hope for a reversal. However, there is a probability of an upside correction towards 1.1750. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal EUR/USD Daily share Read Next Chainlink Price Prediction: LINK Could Fall To $19, Time to Sell? Nancy Lubale 1 year EUR/USD retreated to multi-month lows of 1.1720. The dismal ZEW survey data of the Eurozone further fueled the selling. Further fresh impetus will be provided by the US non-farm productivity, labor cost and US CPI. The EUR/USD price retreated downward again after moving sideways around 1.1750 during Tuesday's Asian session, reaching 1.1716, its lowest level since late March. As a result, the EUR/USD exchange rate is down 0.15% for the day at 1.1720 at the moment of writing. –Are you interested to learn more about automated forex trading? Check our detailed guide- The disappointing ZEW survey results for the Eurozone seem… 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.