Yesterday’s trading session showed no major shift. The currency pair eventually managed to pass 100pts but it was done within a relatively long period. The level of volatility was rather high, mostly due to the current global economic situation: the eurozone’s crisis and the uncertainty showed by the US Department of the Treasury.
Some economic indicator managed to smooth negative market sentiments. For example, the amount of initial unemployment claims dropped down to 395K. The ECB’s report reassured the market with its comments on the bank’s monetary policy and the analysis of the future economic conditions. The USA’s trade balance came out better than expected.
Today’s news background is rich in significant economic reports, including the data on the eurozone’s manufacturing production as well as the USA’s retail sales, CCI, inventories.
The closest significant levels of support and resistance are the option barriers located at 1.5911 and 1.6232.
Provided by the Department of Options,
