Broad USD strength continues to weigh on the pair. Upbeat retail sales data from the U.S. fuel the DXY’s rise. Today’s data from the euro remind investors of the slowdown. The EUR/USD pair, which dropped sharply after breaking below the 1.13 mark in the European session on dismal data, extended its slide in the last hour and touched its lowest level since April 8 at 1.1225, coming within 50 pips of its 2019 low of 1.1175. As of writing, the pair was down 0.57% on the day at 1.1230. The IHS Markit’s advanced PMI reports today revealed that the Manufacturing PMI stayed below the 50 mark in April both in Germany and the eurozone, pointing out to a decline in the sector’s business activity and reminding investors of the economic slowdown in the euro area. Assessing today’s PMI readings, “Since the second quarter of 2018, the eurozone economy has been persistently undershooting expectations. Today’s figures continue this long string of underperformance. But we shouldn’t get too pessimistic either. The recent upturn in China is a boon to Europe’s economy as it is much more dependent on foreign demand than the US,” ING analysts said. In the second half of the day, the US Dollar Index, which tracks the greenback’s value against a basket of six major currencies, pushed higher after the data published by the U.S. Census Bureau revealed a much higher than expected growth in retail sales in March. Additionally, the sour market sentiment, as reflected by the more-than-1% drop seen in the 10-year T-bond yield, allowed USD bulls stay in control. At the moment, the DXY is at its highest level since April 2 at 97.47, rising 0.46% on the day. Tomorrow’s macroeconomic calendar won’t be featuring any data releases and the Easter holiday is expected to keep the trading action subdued. Technical outlook by FXStreet Chief Analyst Valeria Bednarik The greenback heads quite strong into the Asian session, with only Japanese markets ´ open, as the rest of the region will celebrate Good Friday, as well as all European countries. In the US, Friday is not a holiday, but both the NYSE and the NASDAQ will remain closed. Activity is expected to remain restricted. The 4 hours chart shows that the pair is struggling with the 61.8% retracement of the 1.1183/1.1323 rally at around 1.1235, while extending its decline below its moving averages, all of them gaining downward traction. Technical indicators maintain their bearish slopes near overbought levels, keeping the risk skewed to the downside and exposing 1.1175 the yearly low. Support levels: 1.1200 1.1175 1.1140 Resistance levels: 1.1245 1.1280 1.1320 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 GBP/USD breaks below 1.3000 to a 20-day low amid a stronger US Dollar FX Street 4 years Broad USD strength continues to weigh on the pair. Upbeat retail sales data from the U.S. fuel the DXY's rise. Today's data from the euro remind investors of the slowdown. The EUR/USD pair, which dropped sharply after breaking below the 1.13 mark in the European session on dismal data, extended its slide in the last hour and touched its lowest level since April 8 at 1.1225, coming within 50 pips of its 2019 low of 1.1175. As of writing, the pair was down 0.57% on the day at 1.1230. The IHS Markit's advanced PMI reports today revealed that the… 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.