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DAILY MARKET REVIEW — 06/12/2016

DAILY MARKET REVIEW — 06/12/2016

 

The USD’s correction continues

 

Forex

EUR/USD

EURUSD

The pair experienced a mixed trading yesterday. In the morning, it started to fell after Italy’s referendum results were published and the subsequent resignation of the Prime Minister. However, the president did not accept the government to leave, at least until the Parliament accepts the budget for next year.

This piece of news allowed for the euro to win back everything it lost. Meanwhile, U.S’ ISM non-manufacturing business activity came out better than expected.

Today, the dynamics of the pair will depend on the US’ trade balance and factory orders scheduled for 13:30 (GMT) and 15:00 (GMT) respectively.

Resistance: 1.07948, 1.08487, 1.09227
Support: 1.07347, 1.06900, 1.06565

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