FXStreet The EUR/USD can the offers not shake off and so falls the price at the lower end of the daily range in the area of the 1,1100.
After 4 days of gains, the Pair is taking a breather, and so there is a downward revision from new multi-month high from the area of the 1,1170/75. Driven, the correction will be profit-taking caused it and the slight recovery of the USD, which had come after it in the last 4 days-an increase of more than 300 Pips.
The downward correction accelerated after the ECB meeting Protocol is published, as this contained the possibility of a reduction in the inflation forecast, with the next meeting in June.
Next, we expect that some US economic data and a scheduled speech by ECB President Mario Draghi.
• EUR/USD target is now 1,1200 – UOB
• EUR/USD can still 1,1300 test – Commerzbank
Under 1,1100, the next supports lie at 1,1075 and 1,1025-20. On the other hand, Resistances can be found at 1,1150/60, 1,1200 and 1,1250.
** FXStreet News Editorial, FXStreet**