Euro recovered from early day lows as inflationary measures out of the U.S. failed to surprise. In Euro-zone specific data, Industrial Production softened feeling the repercussions of an overvalued .EuroKey figures out of the Euro zone will be made public in the form of CPI and GDP with a forecast of 0.3% and 0.5% respectively..Reports may show first-quarter economic growth accelerated, making it less likely the European Central Bank will lower interest rates .
tech view
EURO is expected to be in the range of 1.5420-1.5550.With good support seen at 1.5400 and key resistance is seen at 1.5570.Chart pattern indicates the currency to be bullish note. Currency has breeched the fast moving averages and is trending stochastic and RSI is also hinting towards a bullish movement in the counter.
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