The EUR/USD pair fell on Monday to 1.0730, its lowest since mid-February.
EUR/USD Current price: 1.0740 European Central Bank officials delivered hawkish comments on Sunday. The United States ISM Manufacturing PMI surged to 50.3 in March. EUR/USD approaches February low at 1.0694, aiming to break below it. The US Dollar surged after Wall Street’s opening, as stocks dipped while solid United States data reflected the strength of the local economy.
Germany will release on Tuesday the preliminary estimate of the March Harmonized Index of Consumer Prices , expected at 2.4% YoY, while the US will release February Factory Orders and JOLTS Job Openings for the same month. Additionally, several Fed officials will be on the wires during the American afternoon. EUR/USD short-term technical outlook The EUR/USD pair bounced from the mentioned intraday low but looks poised to extend its slump.
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