Fundamental Analysis:
The Euro prints 3-day losing streak trading below 1.08 after German factory orders plunged by 15.6% in March compared with the previous month.
The US Dollar remains in high demand in this uncertain market environment.
Today, the German industrial production is likely to have suffered a sharp contraction in March, adding further pressure on the Single currency.
Technical Analysis:
The bulls attempted to break above the 200-period SMA but the bearish momentum was much more overwhelming.
Price broke below the 1.0815 support, signaling further weakness towards 1.0750 and possibly beyond.
Support: 1.0750 / 1.0650
Resistance: 1.0815 / 1.09
