Euro eased in light of the strong data released from the U.S. French CPI was released on Tuesday with a result of 3.2%, which sat at the upper band of expectations, along with Italy’s CPI reading of 3.3%, which will put upward pressure on the already heated Euro Zone CPI. Looking ahead for the day are the core CPI for Germany with forecasts of a growth from 2.8% .
TECHNICAL FOR THE DAY
EURO is trading well below the fast moving average and chart pattern indicates the currency to have a small downward correction. Trading range for the day is expected between 1.5720-1.5840 .Good support is seen at 1.5710 and resistance seen at 1.5850 levels. Momentum and stochastic are giving clues for the currency to have a downward correction.
EURO is trading well below the fast moving average and chart pattern indicates the currency to have a small downward correction. Trading range for the day is expected between 1.5720-1.5840 .Good support is seen at 1.5710 and resistance seen at 1.5850 levels. Momentum and stochastic are giving clues for the currency to have a downward correction.
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