“¢ Bullish momentum once again fizzles out ahead of the 0.8800 handle.
“¢ Hotter-than-expected EZ CPI fails to provide any fresh bullish impetus.
“¢ Italian 2-yr yield rise 40bps from lows and negatively impacts EUR.
“¢ Weakness back below mid-0.8700s to expose descending trend-channel support.
Spot rate: 0.8763
Trend: Sideways
Support 1: 0.8754 (daily pivot-point)
Support 2: 0.8731 (23.6% Fibonacci retracement)
Support 3: 0.8698 (weekly/1-month low)
Resistance 1: 0.8791 (daily swing high)
Resistance 2: 0.8810 (R1 daily pivot point)
Resistance 3: 0.8842 (May 4th/monthly high)
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