Euro (EUR)

The Euro strengthened against the Greenback on speculation that the ECB might consider increasing the interest rate in order to control inflation. The CPI came out at 2.3%, worse than the expected 2.4%. Only breaching the resistance level of 1.3850 will push the pair higher, otherwise a rebound back to 1.37 zones is possible. Overall, EUR/USD traded with a low of 1.3710 and with a high of 1.3854. Today, the German Unemployment Change is expected unchanged at -13k. Also, the Unemployment rate is expected to remain unchanged at 10%.

EUR/USD - Last: 1.3808

 

Resistance

1.3850

Support

1.3780

1.3710

1.3650

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