From the chart it is clear that the currency pair last days updates highs of the end of last month. Such rapid of growth contributes to the weakening of the US dollar, and at the same time increasing yields on German bonds. Also should be noted the situation with Greece, the government changed its list of its negotiating team, dropping the importance of the Minister of Finance Varufakis, who led an aggressive policy in relations with creditors, against which has not reached significant agreements. The government of Greece has a hope that creditors will now more favorable to them. Today, the pair may continue its galloping growth, against the backdrop of the closing of sales, as well as in low index of business activity in the manufacturing sector from the ISM. However, it is expected to be higher than the previous value and to to grow to a value of 52.0.
At the moment, the pair has consolidated. Break of the resistance level of 1.1260 will open the way to the following objectives at the levels of 1.1300; 1.1370. When consolidating below 1.1200 it may be downward movement toward support levels 1.1140; 1.1100; 1.1040.
At the moment, the pair has consolidated. Break of the resistance level of 1.1260 will open the way to the following objectives at the levels of 1.1300; 1.1370. When consolidating below 1.1200 it may be downward movement toward support levels 1.1140; 1.1100; 1.1040.
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