EUR/USD (a 4-hour chart)
Germany will publish the retail sales release. The retail sales fell by 0.5% m / m in February compared with January. The consumer confidence indicator growth with the car sales increase point out to the Germans desire to spend more money than to save.
Germany and Spain have already published the March inflation and both releases can be called positive.
There was the key support level of 1.0790 breakthrough. The level was broken through amid the lower volumes.
The price is finding the first support at 1.0670, the next one is at 1.0550. The price is finding the first resistance at 1.0790, the next one is at 1.0925.
There is a non-confirmed and a weak sell signal. The price is on the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is decreasing.
The price is likely to consolidated below the level of 1.0790. Then we expect the rebound upwards. The potential rebound target is the resistance level of 1.0925.