Trading in Europe is off to a steady, cautious, start, EUR/USD trying to recover from overnight losses.
Early euro-zone data hasn’t been very good. Irish April services PMI fell to 32.2 from 35.7 in March. Business expectations index fell to 46.6 from 50.8.
Elsewhere, Spanish March industrial output fell -24.7 y/y compared to -22.5% in February, worse than the median forecast of -19.8%.
I guess the fact EUR/USD didn’t sell-off on the numbers is mildly encouraging.
Technical support 1.3270 and 1.3245/50, resistance 1.3320.
