The common currency remains on the defensive today, with EUR/USD coming down to test the 1.1300 key support. EUR/USD weaker ahead of US data Spot extends its downside pressure today, currently trading in multi-day lows near 1.1300 the figure and around the 20-day sma at 1.1311, all against the backdrop of rising risk-on sentiment following Chinese trade balance figures. Ahead in the day, USD will take centre stage in light of US Retail Sales, expected to have gained 0.1% inter-month during March. Previously, Industrial Production in the euro area ha contracted more than expected 0.8% MoM during February, reverting the previous 1.9% advance. EUR/USD levels to watch The pair is now losing 0.61% at 1.1313 and a break below 1.1300 (psychological level) would expose 1.1219 (38.2% Fibo of 1.0820-1.1465) and finally 1.1158 (55-day sma). On the other hand, the next hurdle lines up at 1.1465 (2016 high Apr.12) followed by 1.1496 (monthly high Oct.15 2015) and then 1.1713 (high Aug.24 2015). For more information, read our latest forex news.