EURO grinned higher as poor economic data coming out from the U.K and U.S, combined with strengthening expectations the ECB may keep rates unchanged at 4.0% continue to push the Euro to near record highs. Economic data released saw Q4 GDP revised lower to 0.4% q/q and 2.2% y/y. Germany’s trade surplus improved in February to $16.4 billion. Euro outstripping expectations of a decline to $15.8 billion.
TECH VIEW
EURO is trading well above the fast moving average and chart pattern indicates the currency to be on uptrend. the trading range is expected between 1.5790-1.5885 .the support is seen at 1.5785 and holds resistance at 1.5890 levels. the momentum is trending upwards and currency expected to be on bull note for the day.
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