Dollar headed for a weekly loss against the Euro on speculation a report today will show U.S. consumer confidence fell to a 28-year low, signaling the Federal Reserve will refrain from raising interest rates. British Pound fell against the U.S. dollar after the Bank of England left interest rates unchanged, signaling that inflation was more pressing than growth.
TECH OUTLOOK:
EURO is expected to be on mixed note for the day. Trading range is expected between 1.5710-1.5850 levels. support for the currency is seen at 1.5680 levels. Good resistance for the currency is seen at 1.5870 levels. Momentum is trending downwards thereby expecting the currency to have downward correction from its resistance levels.
POUND is expected to be on downside for the day. Trading range is expected between 1.9690-1.9810 levels for the day. support for the currency is seen at 1.9680 levels and resistance is seen at 1.9830 levels. stochastic and momentum hints for the downward movement of the currency for the day.
EURO is expected to be on mixed note for the day. Trading range is expected between 1.5710-1.5850 levels. support for the currency is seen at 1.5680 levels. Good resistance for the currency is seen at 1.5870 levels. Momentum is trending downwards thereby expecting the currency to have downward correction from its resistance levels.
POUND is expected to be on downside for the day. Trading range is expected between 1.9690-1.9810 levels for the day. support for the currency is seen at 1.9680 levels and resistance is seen at 1.9830 levels. stochastic and momentum hints for the downward movement of the currency for the day.
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