Profit taking following a strong Euro rally as the market factored in Euro Zone resilience; along with a stronger US-DOLLAR will see the EURUSD correct to the downside in the short term with key support at 1.0900 levels.
Overall Euro strength remains on deck in the medium term as the ECB is looking forward to possible tapering, along with a US-Dollar low which could see the EURUSD rally to 1.1400 - 1.1500 levels. These levels will not sustain, in the wake of German elections especially if the US-Dollar forms lows during June - July.
Overall Euro strength remains on deck in the medium term as the ECB is looking forward to possible tapering, along with a US-Dollar low which could see the EURUSD rally to 1.1400 - 1.1500 levels. These levels will not sustain, in the wake of German elections especially if the US-Dollar forms lows during June - July.