EUR/USD had a choppy week amid market mood swings, another escalation in the Italian crisis, and quite a few Brexit headlines. What’s next? Inflation figures and the EU Summit stand out. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.
The European Commission rejected Italy’s budget again and is in favor of adopting disciplinary measures. On the other hand, Rome made positive noises about willing to negotiate. The spread between Italian and German bonds remained high. Brexit has its bumps but UK PM Theresa May managed to weather another storm.
EUR/USD daily chart with support and resistance lines on it. Click to enlarge:
