The Euro saw the ZEW survey come in at -41.4 weaker then the expected -37.5 hinting that a rate hike from ECB was likely to help counter inflation. Looking ahead for the day important data out today from the Euro-zone German IFO business climate Index expected to come in at 102.1
Tech View:
EURO is expected to be in the range of 1.5600-1.5720.With good support seen at 1.5580 and key resistance is seen at 1.5740.Chart pattern indicates the currency to be bullish note. Currency is trading well above the fast and slow moving averages and is giving a bullish crossover. stochastic and RSI are also supporting the bull note for the day. Currency is trending towards the upper bollinger giving bullish signal.
No comments:
Post a Comment