EURUSD rose yesterday and closed at 1.3644. The President of the European Central Bank Mario Draghi warned again for a potential prolonged period of low inflation and reiterated that the central bank could consider policy tools such as a further cut to its record-low 0.25% interest rate or a QE programme, at its policy meeting in June. Negative sentiment for the single European currency was also fuelled as the European parliament elections in France and England were won by nationalist, and Eurosceptic parties.
Data released today showed that the Durable Goods Orders in the United States rose 0.8 percent in April. Market had expected a reading of -0.5 percent.
Investors are now looking forward for the speech of Mario Draghi in Portugal and the CB Consumer Confidence data due from the United States.
Support for the EURUSD is seen at 1.3613 and resistance is seen at 1.3687.
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EURUSD holds above the 1.3600 level on Tuesday. Eyes on the speech of Mario Draghi in Portugal.
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