Euro gave back some of the gains made this weak on the back of weaker then expected Industrial New Orders coming in at -1.0% .currency received its support from U.S. housing slump and record oil prices slow growth in the world's biggest economy Looking ahead for the day manufacturing and services PMI which is expected to give the market a clearer picture of current economic conditions in the Euro-zone.
Tech View:
EURO is expected to be in the range of 1.5660-1.5800.With good support seen at 1.5640 and key resistance is seen at 1.5820.Chart pattern indicates towards the mixed note. Currency is trading on the moving average with no confirmation on the trend. Momentum is trending downwards and stochastic is seen flat.
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