The Euro was buoyed by the weak US data, surging Oil and from Trichet comments last week regarding a possible rate hike as early as July. Looking ahead for German Trade Balance expected at 15.5B surplus.
Tech view
EURO is expected to be on mixed note for the day. trading range is expected between 1.5710-1.5830 levels. the support for the currency is seen at 1.5680 levels and holds resistance at 1.5850 levels for the day. stochastic still remains in the overbought area expecting the currency to be on upper side . but downward correction is expected at resistance levels. momentum remains flat thereby waiting for further clues from currency movement
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