EURUSD rose yesterday and closed at 1.2880. There was not much on the economic front yesterday. The Industrial New Orders in Italy rose 1.6 percent month over month in March. On the other side of the ocean in the United States the Federal Reserve Bank of Chicago reported that its national activity index dropped to a reading of -0.53 in April. Support for the EURUSD is seen at 1.2811 and resistance is seen at 1.2921. The HotForex Traders Board shows that 57 percent of the traders are long on the EURUSD.
GBPUSD
The Cable rose yesterday and closed at 1.5253. The Consumer Price Index year over year in the United Kingdom released today came out at 2.4 percent sending the pair back at the mid 1.51 level. Support for the GBPUSD is seen at 1.5162 and resistance is seen at 1.5259. The HotForex Traders Board shows that 71 percent of the traders are long on the GBPUSD.
EURUSD continues to trade higher in the early European session. FOMC member James Bullard speaks later today.
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