EURUSD moves lower on Thursday, revisiting crucial support at 1.0800 mark. Following an announcement of dismal Germany’s Retail Sales figures. That caused fresh worries regarding the state of the continent’s biggest economy, pushing on the euro’s value.

Highlights

The Germany’s retail shrinkage and the contradictory cues from the British pound illustrate the continent’s complicated economic situation.
American economic indicators, such as GDP, Jobless Claims, and Chicago PMI, are expected to affect Dollar stability.
The EURUSD and GBPUSD are both at important junctions due to United States data updates and Eurozone economic indices.

The EURUSD pair has extended its brief a decline, which began following the reversal of its 8th of March peaks to the 1.0980 mark, Upon the concerns that the Federal Reserve might postpone cutbacks. The key cause seems to be divergent comments from policy makers at the Fed of the United States with the ECB.

The market Snapshot

The latest data indicated a 1.9 percent drop in Germany’s sales at retail, compared to a 0.4 percent predicted drop. Highlighting the persistent struggles in the European biggest economy. The GBP witnessed divergent signs, with a deficit in the current account marginally higher than predicted at -21.2 billion. The Pound with a final GDP q-o-q figure showing a loss of -0.3 percent.

DXY Analysis

The DXY fell slightly, to 104.370 mark, representing a 0.07 percent decline. At present, the index’s value is just shy of its pivot level of 104.496 mark, signifying a possible turbulent market scenario.

The levels of resistance are indicated at 104.736, 104.978, then 105.248 mark. Fundamental supporting lies at 104.187 level. Plus additional levels on 103.989 & 103.675 area..The closeness to the 50 & 200 D-EMAs near 104.032 & 103.730, each, highlights the DXY’s rising trend.

Nevertheless, its current levels below a significant dual top barrier point to a critical juncture for investors. Its bull breakthrough over 104.496 level might push additional advances. But failing to clear this mark could end up in a negative reversion.

Source: Trading View- DXY (daily Graph)

EURUSD Analysis

The EURUSD unit fell by 0.07 percent settling at 1.0820. Currently, the FX pair is trading under a significant pivot of 1.0835 mark. Showing a wary negative attitude in the markets. Opposition levels have been detected on 1.0855, 1.0872, then 1.0888, signifying possible hurdles to higher movement.

To the negative side, levels of support have been created around 1.0802, 1.0783, then 1.0761 mark. That could offer a cushion from additional losses. The 50 & 200 D-EMAs, of 1.08481 & 1.08561, accordingly, are tightly aligned, indicating a narrow moving band. A rise over the point of pivot might signal an adjustment into a bull stance. Whereas remaining under it preserves an unfavorable view.

GBPUSD Analysis

The GBPUSD pairing is off 0.10 percent, standing at 1.26278. The price is presently trading below the crucial 1.2649 barrier. Reflecting a negative attitude. The levels of resistance around 1.2694, 1.2748, then 1.2805 might limit future upward efforts.

Supports is formed around 1.2577 mark, having more flooring at 1.2536 & 1.2502 mark, poised to fend off declines. The closeness of the 50 & 200 D-EMAs, of 1.2665 & 1.2686, each, suggests a close struggle among bulls and bears. A significant rise over the pivot point could push sentiment into a beneficial direction. But sticking under could support negative patterns.

Technical Indicators & Signals (Daily)

EURUSD

GBPUSD