The Euro gained as oil rallied and ECB members reiterated that a rate hike in July was possible. Currency received support from the French CPI which came in strong at 0.5% on rising energy costs .Looking ahead for the ECB Bulletin along with the Eurozone April Industrial Production which is expected to come flat at 0.0%.
Tech View:
Euro is expected to be on mixed note for the day. support for the currency is seen at 1.5360 levels and resistance is seen at 1.5620 levels. The trading range is expected between 1.5370-1.5610 levels for the day. Stochastic and RSI still lies in neutral territory waiting clues from movement of the currency. currency is trading below the moving average and bearish crossover indicates the downward trend to breach the support level.
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