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Forex: EUR/USD keeps the easing tone

The single currency is intensifying its bearishness on Tuesday, printing fresh lows in the area around 1.3470/65 ahead of services PMI in the euro area.

Ahead in the day, EMU retail sales during December are also due, expected to contract 1.1% YoY and 0.3% on a monthly basis, followed by preliminary inflation figures in Italy for the month of January.

At the moment, the cross is losing 0.33% at 1.3469 with the next support at 1.3415 (low Jan.29).
On the flip side, a break above 1.3625 (hourly cloud base) would open the door to 1.3660 (hourly high Feb.4) en route to 1.3711 (high Feb.1).

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