The Euro weakened slightly against most currencies while holding against the USD as the EU Industrial Production data fails expectations at 0.9% vs. 1.2% and CPI data coming out as expected. The EUR/USD has been trading upwards for the pass month with a clear technical uptrend, forming higher highs and higher lows, after breaking up another resistance at 1.2722. Unless obvious signs of a trend reversal appear, the direction remains upwards. Overall, EUR/USD traded with a low of 1.2681 and with a high of 1.2776, closing at 1.2740 gaining 0.14%. Today, the ECB Monthly Report is due to be published, giving out information on various economic issues as well as a growth outlook.

EUR/USD - Last: 1.2729

Resistance

1.2739

1.2778

 

Support

1.2682

1.2614

1.2551

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