The Euro (EUR) is consolidating silently within a relatively narrow range around 1,1350, says Shaun Osborne, head of Scotiabank FX.
The EUR/USD rally shows signs of short -term exhaustion
“The data of the Zew business feeling survey were mixed, since the leading component disappointed while the figures of the current situation offered a modest positive surprise.”
“Thursday’s ECB meeting remains a focus as market tensions continue to moderate, and a 25 basic points are widely expected. The meeting will not include new forecasts, which will allow the president of the ECB, Lagarde, maintain greater flexibility in terms of establishing the perspective for the fees.”
“The EUR/USD rally shows some short -term exhaustion signs with an overcompatted impulse (RSI of more than 70). The most recent range is approximately limited between the support in the middle of 1.12 and the resistance in the middle of 1.14.”
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.
