EUR/USD flirting with lows near 1.19 ahead of Powell, Trump

• The pair approaches the key support area at the 1.19 handle.
• USD stays bid and looks to Trump’s decision on Iran later today.
• German Industrial Production, Trade figures next on tap.

EUR/USD remains fragile so far this week and is trading at shouting distance from the critical 1.1900 support, which held an initial test on Monday.

EUR/USD looks to data, Powell, Trump

The pair is down for the third session in a row so far today, navigating the area of fresh 2018 lows in the 1.1900 neighbourhood and always amidst the continuation of the upside momentum in the buck.

EUR remains unable to gather some upside traction and its outlook stays negative while capped by the 1.2020 region, where now converge the 10- and 200-day sma.

Later in the session, German Industrial Production figures and Trade Balance results are due ahead of the speech by Fed’s J.Powell at the SNB/IMF event in Zurich. In the NA session, JOLTs Job Openings and the NFIB index are only expected.

In the meantime, all the attention will stay on the speech by President Trump in the European evening, where he is expected to make a decision on whether to pull the US out of the deal on the Iranian nuclear programme.

EUR/USD levels to watch

At the moment, the pair is losing 0.08% at 1.1915 and a break below 1.1898 (2018 low May 7) would open the door to 1.1800 (psychological level) and finally 1.1718 (monthly low Dec.12 2017). On the other hand, the next upside barrier aligns at 1.2019 (200-day sma) seconded 1.2021 (10-day sma) and finally 1.2153 (low Mar.1).