EUR/USD to find direction on a breach of either 1.1885 or the 1.1970 mark

EUR/USD trades marginally higher in another dull day, confined to a tight 40 pips range ever since the day started. The pair is waiting for a catalyst to break either 1.1885 or the 1.1970 price zone, FXStreet’s Chief Analyst Valeria Bednarik briefs.

Key quotes 

“Germany published the ZEW Survey on Economic Sentiment, which improved in March to 76.6, beating expectations. For the whole EU, the index printed at 74, also better than anticipated.” 

“In the US, Retail Sales were a big miss, contracting by 3% in February, although January reading was upwardly revised to 7.6% from 5.3%, partially offsetting the negative headline.”

“The EUR/USD pair offers a neutral-to-bearish stance in the near-term. Still, the pair is trading within Fibonacci levels and would need to clear either 1.1885 or the 1.1970 price zone to find directional strength.”