Easter Subdued Euro/Dollar, Eurozone Provides This Week’s Data
The Euro/Dollar pair has dropped to test near 1.2320. So far, the trading was subdued due to Easter holiday and today isn’t promising to be much different. Support levels are at 1.2290, 1.2250 and 1.2210 while the resistance levels are at: 1.2335, 1.2370 and 1.2415.
The sole event, worth looking forward to, is Wednesday’s Preliminary Consumer Price Index from the Eurozone. We’ll also get Eurozone Manufacturing PMI indices tomorrow. On Friday, the US will feature non-farm payrolls. Meanwhile, the greenback saw a short recovery rallies. Still, the EUR/USD stuck inside of consolidation diapason, established in the beginning of the year. Downside breach is possible, considering speculations about Fed rate hikes and trade tensions with China.