The Euro traded at daily lows after the stronger the expected US data but rallied as commodities rallied. Looking ahead for April Euro zone PPI and Revised 1st quarter GDP
Tech View:
Euro is expected to be on downside for tech day. the currency lends its support at 1.5460 levels and holds resistance at 1.5610 levels. Trading range is expected between 1.5470-1.5600. the breach of support level may test new lows in near term. stochastic is trending downwards thereby giving the hint of bear movement for the day. currency is trading below the fast moving average and momentum signaling downwards supports the downside movement of the currency for the day.
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