Weak French and Italian data bearish for EURUSD
French and Italian industrial production data for July were worse than expected. Will the EURUSD decline?
The price chart on 1-hour timeframe shows EURUSD: H1 is still trading sideways. The price has breached below the 200-period moving average MA(200) which is declining. And the RSI is below 50 level and falling toward oversold zone. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.