Euro (EUR)

The Euro rose by almost 200 pips against the Dollar last Friday after the German Ifo Business Climate Index came out at 110.30, better than the expected 110.10. The Coalition government in Ireland collapsed, which will likely have an effect on the rate of the euro today, and we will probably see bearish momentum for the pair. Trading above 1.6000 will keep the momentum bullish, but trading below can take the pair back to 1.3400 areas. Overall, EUR/USD traded with a low of 1.3449 and with a high of 1.3625. Today, no major economic data is expected.

 

EUR/USD - Last: 1.3590

 

Resistance

1.3650

1.3780

Support

1.3520

1.3453

1.3387

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