Intra-day news and views and data to be released today – EUR/USD
|Intra-day market moving news and views
Update Time: 19 Apr 2021 05:30GMT
EUR/USD - 1.1963.. Despite rising one tick above Thursday's 1.1993 high to a fresh 5-week peak of 1.1994 in Europe on Friday, the euro retreated to 1.1973 in New York on profit taking n price further pared recent gains n inched lower to 1.1962 in early Asian morning Monday, suggesting range trading is in store.
This week price action is important to determine eur's next 150-200 points move. As long as 1.2027 (50% r of 1.2349-1.1705) holds, Medium Term bearishness remains, a daily close below 1.1927 (prev. res, now sup) would signal corrective rise from 1.1705 is over, perhaps Thursday's ECB monetary policy announcement n post-ECB presser may well be the key driver.
Order book is pretty thin on Monday with some bids noted at 1.1965/55 with stops touted below 1.1950 while offers are tipped at 1.1990/00 with stops above there.
On the data front, we have EU's construction output n the current account. The German Bundesbank will release its monthly report sometime in European morning.
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