Euro (EUR)
The euro rose against the US Dollar after European Central Bank policymakers expressed concern over the possible effects of a strong euro on inflation in the region. The Industrial Production came out worse than expected at -1.10%vs. 0.30%. Technically, according to the 1-hour chart, the EUR/USD is trading between the 1.3585 support level and the 1.3645 resistance level. While the RSI indicator is above 50, the currency pair is holding above the Moving Average 10, which suggests the beginning of a downtrend to 1.3700.
Last: 1.3620
| Resistance | 1.3645 | 1.3700 | 1.3740 |
| Support | 1.3585 | 1.3540 | 1.3470 |
British Pound (GBP)
The Pound fell against the US Dollar after reaching its highest level in five years. Technically, the trend is set to remain bullish as long as the GBP/USD maintains its support level of 1.7070. The pair is expected to retest the resistance level of 1.7170. Breaking below the bullish trend line could lead the GBP/USD towards the 1.7000 support level.
Last: 1.7080
| Resistance | 1.7145 | 1.7180 | 1.7240 |
| Support | 1.7070 | 1.7000 | 1.6950 |
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