Euro falls after strong recovery rejection and weak EU data

The Euro stands at the back foot and dips to session low at 1.1282 in European trading on Tuesday, as EU current account surplus narrows significantly (Dec 16.2B vs Nov 22.7B) and German ZEW data showed economic sentiment weakened in Feb (-13.4 vs -15 in Jan).
Strong upside rejection on Monday (just under key Fibo barrier at 1.1341) and close below cracked falling 10SMA, were initial negative signals.
Recovery stall warns of further weakness as technical studies remain weak and bearish sentiment was also boosted by failure to clear 10SMA / Fibo pivots and weak fundamentals.
Additional pressure comes from falling thick 4-hr cloud which repeatedly limited recovery attempts (on short-lived penetrations of the cloud).
Fresh extension lower already retraced 50% of 1.1234/1.1334 recovery leg, with further weakness through 1.1272 (Fibo 61.8%) to confirm reversal and re-focus last Friday’s spike low at 1.1234 and key support at 1.1215 (12/13 Nov lows).

Res: 1.1305; 1.1334; 1.1341; 1.1360
Sup: 1.1272; 1.1257; 1.1234; 1.1215