Euro dropped slightly against the greenback partly due to the increased sentiment around the U.S following Washington Mutuals capital injection. Looking ahead for the day is the ECB rate announcement with expectations that the bank will maintain its current rate at 4.0% particularly following the German Industrial Output data which saw a growth of 0.4% indicating the Euro is remaining solid.
Tech view:
Euro is expected to trade in the range of 1.5680-1.5800.With good support seen at 1.5650.key support seen at 1.5810.Currency is expected to be on a bullish note for the day as it is trading well above the fast moving averages giving bullish crossovers. Sensitivity indicator stochastic and Relative Market strength index are pointing towards the uptrend to continue for the day.
Euro is expected to trade in the range of 1.5680-1.5800.With good support seen at 1.5650.key support seen at 1.5810.Currency is expected to be on a bullish note for the day as it is trading well above the fast moving averages giving bullish crossovers. Sensitivity indicator stochastic and Relative Market strength index are pointing towards the uptrend to continue for the day.
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