EUR/USD stays below 1-hr 200-MA in Asia

The EUR/USD pair remains below the 1-hr 200-MA level of 1.0554 in Asia as the traders remain in favor of holding dollars following Friday’s upbeat US wage growth figures.

Eyes German, Eurozone data and Fed speak

The EUR traders await the German November industrial production data and the current account/trade balance figures. The German data will be followed by the Sentix investor confidence release.

Later in the day, comments from Fed’s Rosengren and Lockhart are due, but may not have much influence the FX markets unless the policymakers deviate from the current consensus expectations of three rate hikes in 2017.

EUR/USD Technical Levels

The spot was last seen trading around 1.0534. A break above 1.0554 (1-hr 200-MA) would open the door to 1.0622 (Friday’s high) and then to 1.0654 (Dec 29 high). On the other hand, a breakdown of support at 1.0486 (1-hr 50-MA + 10-DMA) could yield a sell-off to 1.0423 (Dec 22 low) and 1.04 (zero figure).