The euro was down 0.38% on the day despite economic data from the eurozone staying sparse. The Gfk consumer climate report from Germany showed a decline to 10.4 from 10.7 previously. The fourth quarter GDP report from France was revised to show a 1.0% increase compared to a 0.9% increase as previously reported.
Will the EURUSD Maintain the Bearish Momentum?
The EURUSD currency pair continued to reverse the gains with prices posting a steady decline and resuming the bearish trend. The euro has traded near lows of 1.1251 levels at the time of writing which marks a support area. As long as the support holds, we could expect the EURUSD to post a modest bounce to the upside.
