The pair staged some recovery in yesterday's session though the gains were stalled after the greenback came top in the second half of the day. The tension in the Eastern European zone between Russia and Ukraine have sent commodity prices to the roof and have sent inflation to decade highs pressuring consumer' purchasing power globally. The Euro appear to have been hit the most by the tension as the uncertainty around the French Presidential elections adds to the doubts of investors.
The pair has been limited to narrow trading in the last couple of days with breakout around the narrow zone expected in the coming days. A continuation of the bearish pressure will be dominant if price could push lower than the 1.08300 support zone while the little recovery witnessed yesterday could become sustained if price trade above the 1.09520 resistance zone.
ZEW Economic Sentiment (EUR) 10:00 am
German ZEW Economic Sentiment (EUR) 10:00 am
CPI m/m (US) 1:30 PM
Core CPI m/m (US) 1:30 PM
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