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The Euro registered biggest daily drop in over a month

SquaredFinancial

Fundamental Analysis

* The Euro registered biggest daily drop in over a month on Monday.
* Easing of lockdown measures in Germany could support the single currency in the short-term.
* The Eurozone PPI for March is scheduled for release at 09:00 GMT. The single currency may also take cues from the European commissions economic forecasts. speech by the German Bundesbank President Weidmann and ECB's Mersch.

Technical Analysis

* The 1.09 level acted as support, price could bounce back towards 1.0935 before continuing further sell-off towards the 50 and the 200-period SMAs.

Support: 1.09 / 1.0815
Resistance: 1.0935 / 1.990

SquaredFinancial Daily Market Outlook


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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/the-euro-registered-biggest-daily-drop-in-over-a-month-on-monday-eur-usd-market-outlook-05-05-2020
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