FXStreet — The Euro compared to the US Dollar, the support was just over 1,0880 and turned again to the North in the direction of the brand of 1.09. However, whether the bears or bulls will win the battle in the face of a firmer us currency.
The US Dollar is currently in recovery mode against its major counterparties. Support the reserve currency on rising U.S. yields, after the threat of a government shutdown was averted.
The pessimistic results of the recent meeting of the ECB weigh on the sentiment around the Euro. The European Central Bank left the key policy rate, although unchanged — an entry in the exit from the ultra-loose monetary policy has not been discussed. Draghi stressed that the multi-billion dollar asset purchase program could be extended beyond 2018 and beyond, if necessary.
In the meantime, stay the losses in the EUR/USD is limited, since the market participants to new economic data from the United States , especially after the less good growth data on Friday. So, the real gross domestic product (GDP) rose from January to March each year by only 0.7 percent. This represents the weakest growth clip since 2014.
The currency pair is likely to make a note of in the course of the day in a narrow sideways range. Because the European markets because of the «day of work» closed. Consequently, the main focus of investors is on the US Mix. In addition, the US will hold a Finance Ministers Mnuchin a speech.
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Technical Resistances now lie at 1,0931/33 (R3 / High 27. April), 1,0950/51 (psychological level / 5-month High) and 1,1000 (key resistance). Supports on the other hand, 1,058/50 (10-days-line / Low-27. April), 1,0819 (Deep 24. To find April) and 1,0800 (round mark).
** FXStreet News Editorial, FXStreet**