Euro traded higher initially in Europe after revised 1st quarter GDP was slightly higher than anticipated Bernanke's pro Dollar comments which sent the Euro into free fall pushing the single currency lower.
TECH VIEW:
Euro chart pattern indicates the currency to be on mixed note for the day. the support is seen at 1.5365 and resistance seen 1.5540 levels . trading range is expected between 1.5370 -1.5535 levels. stochastic still in oversold but giving a slight indication for upward correction towards 1.5540 levels. the momentum trending downwards thereby clues for downtrend. currency is trading below the fast moving average and bearish crossover of MACD signals for the downward movement.
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