The EUR/USD pair keeps trading within familiar levels on Wednesday, hovering around 1.0940 ahead of the American session opening.
EUR/USD Current price: 1.0938 Financial markets keep rotating around central banks and monetary policies. The Eurozone reported a sharp decline in Industrial Production in January. EUR/USD is poised to resume its advance but still needs to clear a critical Fibonacci level. Financial markets moved past the latest United States Consumer Price Index .
Data-wise, the Eurozone published January Industrial Production, which fell 3.2% MoM and 6.7% YoY, much worse than anticipated. The upcoming US session has nothing to offer regarding data, with the focus shifting to Retail Sales figures to be out on Thursday. EUR/USD short-term technical outlook From a technical point of view, the risk skews to the upside. The daily chart shows the pair bounced from an intraday low of 1.0920, just above the 50% Fibonacci retracement of the 1.1139/1.
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