Euro traded at weekly lows on stronger US data but rallied over 2 big figures on Hawkish ECB comments. Citing the ECB mandate to anchor inflation expectations and said ECB will act in a timely manner. Looking ahead for German Industrial Production which is expected at 0.2%.Yen was sold heavily as key resistance levels were broken and equities rallied
Tech view:
Euro is expected to trade in the range of 1.5540-1.5670.With good support seen at 1.5520 levels and key resistance for the currency is seen at 1.5700 levels. Stochastic and Momentum are giving cues for the bull run and the moving averages also supports the view as it it seen trading well above the fast moving averages.
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