EUR/USD dropped to new lows but recovered quickly and stabilized back in the known ranges. What’s next? An important German survey and final inflation figures stand out in a week where Brexit could also have a meaningful impact on the common currency. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.
Stocks tumbled and the world’s most popular currency pair remained relatively stable most of the time. Weak US inflation figures already sent the US Dollar lower and the pair higher. In the euro-zone, Germany’s trade balance and industrial output beat expectations. Italy remained in the headlines but the euro managed to shrug it off more than in previous weeks.
Updates:
EUR/USD daily chart with support and resistance lines on it. Click to enlarge:
