The euro (EUR) remains little changed in the day and continues to consolidate the recent profits, says Shaun Osborne, head of Scotiabank FX strategy.
The bullish trend remains intact
“The short -term differentials have been corrected a bit, helping to cut the EUR rally, but the differentials remain in general favorable. The industrial production of the eurozone in January remained flat in the month of January, in the face of the expectations of a fall of an intermencing 0.8%. The December production was reviewed up to a (still weak) fall of 1.5%.”
“Eurusd continues to consolidate. Cash losses are extending for the second day and are testing the support in the upper part of 1.08, but the broader technical background remains constructive and the falls towards the low/average area of 1.08 should continue to be supported. The short -term key support is 1.0805. The resistance is 1,0950 and 1.10.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
