A wall of selling greeted the euro when it poked above $1.19 last week. Follow-through selling saw it dip below $1.1750 in the middle of the week before new buying emerged. It finished the week above the midpoint of the $1.16-$1.20 five-month trading range. The MACD is slowly rising from its trough, the Slow Stochastics have turned down. The resistance at $1.1835-$1.1845 got breached on morning trading but 1.1865 still posses a big resistance for the Euro bulls with major rejection.
EUR/USD
The ECB said on Thursday it was increasing the overall size of its Pandemic Emergency Purchase Programme (PEPP) by 500 billion euros to 1.85 trillion euros. It extended the scheme by nine months to March 2022. Whilst on Friday, ECB policymaker Francois Villeroy de...
