Euro – Trying to Stay Above 1.3000
Yesterday, Italy`s election resulted in more uncertainty in the Euro zone, the Euro/USD collapsed to the low of 1.3017 at the time of this article. At this stage in the economy, the markets are looking for “leadership” from the government. Everyone is aware that the economy is in bad shape but that is not the reason for the selloff in the equities and the currencies. The lack of direction in governments’ fiscal policy is the main reason for the nervous feeling in the markets.
Support levels for the Euro/USD are 1.3000 and 1.2930. Resistance levels are at 1.3116 and 1.3275.
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