The Euro staged a recovery off lows in the Asian session but once again found selling pressure during the US session as US data beat estimates and oil receded from highs. Looking ahead for Industrial Production with a forecast at 0.1%.·
TECHNICAL VIEW:
EURO expected to be on the downtrend for the day.Trading range is expected between 1.4830-1.4980.support is seen at the levels for 1.4820 levels and resistance at 1.5020 levels for the day.stochastic remains in the oversold area thereby indicating the currency to be on downside.DMI indicates the currency to be on downside for the day.
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