After sitting around 0.6665 (1.5000) for most of last week the Euro (EUR) has been better bid this week coming from 1.4870 (0.6725) during early Monday sessions to 1.5060 (0.6640) this morning with German Producer prices printing at their highest level since figures began. This shows resilience in the economy despite higher inflation, recession concerns and the war in Ukraine. Technically we predict further strength to develop in the EUR as the bear trend continues through to meet the 100-day moving average at 0.6580 (1.5200). Lagarde speaks tomorrow.
Current Level: 0.6631 (1.5080)
Resistance: 0.6755 (1.5330)
Support: 0.6525 (1.4800)
Last Weeks Range: 0.6615-0.6717 (1.4887-1.5117)