The dollar held broad strength after falling against the euro as investors booked profits from recent advances that pushed the U.S. currency to its first back-to-back monthly gains .Slowing growth in the euro zone is offset by views that rising inflation could push up rates.
Tech View:
EURO is expected to be on mixed note for the day. the currency lends its support at 1.5450 levels and holds resistance at 1.5640 levels. trading range is expected between 1.5460-1.5635 levels. the day stochastic is trending downwards thereby taking the currency to be on bear note. currency is trading below the fast moving average and narrow band indicates the currency to trade on tight range. yet momentum holds on upwards indicating the currency to have slight upward correction in near term.
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