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Forex: EUR/USD intensify its decline after Sentix

The bloc currency has accelerated today’s descent after the Sentix index, which tracks the euro zone’s investor confidence, missed expectations in February, printing -3.9 vs. -3.6 forecasted. However, the index did improve from January’s -7.0, albeit still within the negative territory.

Next on tap in the euro zone would be the producer prices, expected a tad higher in January, +2.2% vs. December’s +2.1% on a yearly basis. Across the pond, Factory Orders will be the only US release today.

At the moment, EUR/USD is losing 0.45% at 1.3590 and a breakdown of 1.3574 (hourly low Feb.1) would aim for 1.3542 (low Jan.31).
On the flip side, a surpass of 1.3815 (high Nov.14) would expose 1.3833 (61.8% of 2011-2012 decline).

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