The Euro (EUR) is silent and is negotiated in a remarkably tight range, given the broader context of the uncertainty and the failure of the German Chancellor of Chancellor Merz to guarantee the majority for his confirmation vote in the German Parliament, notes the FX strategist of Scotiabanque, Shaun Osborne.
RSI reveals a significant decline in the momentum
“The news weighed on European equity indices with the German Dax down 1% during the day and stocks through France, Italy, Spain and the Netherlands negotiating sympathy.
“We continue to seek short -term risks in ECB's speeches at the end of the week, especially in the context of the surprise of the IPC last week.”
“EUR / USD has been stuck in a flat congestion range since early April. The support is observed below 1.13 and the resistance is observed above 1.14. The RSI reveals a significant decrease in the momentum, despite the fact that it remains in a slightly increased territory greater than 50.”
