- Pessimism in Italian growth forecast
Price Movement
Since yesterday, EUR/USD moved down by around 35pips before moving back up by around 25pips.
Trend
EUR/USD is trending downwards.
Important Issue
Yesterday, the Italian Treasury is said to cut GDP forecast for 2019 from 1.0% to 0.1%.
It will also be raising its projected budget deficit.
Technical
EUR/USD is hovering above the support level of 1.12.
Price Levels
Current Price: 1.12258
Next Resistance: 1.14200
Next Support: 1.12000