EUR fell against dollar on Friday
nearly a month low sentiment drives on dovish indication from Mario Draghi for
further interest rate cut. The euro fell against the dollar for the third
straight trading day.
In the week ahead, the euro zone
is to release preliminary data on first quarter growth on Friday, along with an
initial estimate of inflation for April.
Investors will also
be focusing on the outcome of Wednesday’s Fed meeting for clues on
the path of future interest rate increases.
The Bank of Japan
rate statement on Thursday will also be closely watched.
EUR/USD pair has a support at 1.1220 and
resistance 1.1340, close below 1.1220, it will push it down to 1.1150 levels else
it will test its resistance level 1.1340.
Further upside rally can be seen if it
closes above 1.1340 till 1.1465.
More will update soon!!
