The Euro kicked off Monday on the front foot slicing through the 50-day EMA (Exponential Moving average), an indicator that measures trend direction over a period and touched a high of 1.1359 vs the Greenback. Unfortunately, the rally was short-lived on the back of selling pressure and saw the pair pull back to 1.1324 in the North America session.
In other news, Eurozone trade surplus widened from €16 billion in December to €17 billion in January. Looking ahead, the ZEW Institute is to publish a report on German economic sentiment.
On the technical front, support sits at 1.1300 and 1.1212. On the upside, resistance is up at 1.1434 and 1.1553