The Euro stands at the back foot on Tuesday but remains within consolidation range which extends into fourth straight day.
Monday’s bearish candle weighs on near-term action, with bearish daily techs accompanied with weaker than expected German labor data and Italian GDP, keeping negative bias.
EU GDP and business climate data are in focus for fresh signals, as forecast show slowdown (annualized 1.9% f/c vs 2.1% prev) and business climate Oct 1.14 f/c vs 1.21 prev, but growth remains robust and could partially offset negative impact on weak releases.
Key supports at 1.1314 (200WMA) and 1.1300 (12 Aug low) are still in focus and sustained break here would spark fresh bearish acceleration.
Conversely, bullish signal could be expected on bounce and close above falling 10SMA (1.1432).
Res: 1.1387, 1.1432, 1.1481, 1.1497
Sup: 1.1358, 1.1335, 1.1314, 1.1300
