EUR/USD made a move to the upside but quickly returned to the known range. Will it pick a new direction now? Inflation figures and PMI data stand out as a new quarter begins.Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.
Germany’s inflation advanced in March but fell short of expectations. Import prices followed the same path and Spain’s CPI also disappointed. In the US, GDP was upgraded to 2.9% in Q4 2017 while other data did not surprise. Trade tensions eased with some positive noises from China and the US while stocks remained jittery. The turbulence eventually slowed down as markets set into the long weekend.
EUR/USD daily chart with support and resistance lines on it. Click to enlarge: