TECHNICAL DAILY OUTLOOK – EURUSD 14th of May (4:51GMT)
EYES ON 1.1384
NEWS THAT CAN HAVE AN IMPACT:
– U.S. PRODUCER PRICE INDEX (13:30 GMT)
As wrote yesterday, bullish breakout of 1.1240 will lead back to 1.1384 under a weekly perspective.
Yesterday Production Prices in the USA showed sales slow down, especially in export trading.
Today’s news are important as well, because if they give confirmation about emerging inflation then there can be some speculation about interest rates hike for the next fomc meeting in June and if they give disconfirmation about any increasing inflation then there can be really no speculation about strong USD in the midterm.
First support: 1.1302
Second support: 1.1260
Third support: 1.1235
On a daily horizon, first target remains 1.1384.
On a weekly horizon, if the news will keep giving bias to bulls, the first target is 1.1465 and the last is 1.1550
Author: Simone Ambrogio
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