10:44, 10 June
Ahead of the critical inflation data, which will guide the tapering decision to reduce the asset purchase program, the daily room for movement in parities has narrowed with the decrease in risk appetite. Euro/Dollar, which closed yesterday at 1.2179 level, was strong resistance at 1.2215. Prior to the European Central Bank (ECB) meeting, positioning in options at 1.2200 and 1.2250 levels caused selling pressure in the parity.
- It can be viewed as the 1.2210 resistance level.
- If the 1.2135 support level is broken below, the 1.2100 support level can be tested.
- Resistance: 1.2210 – 1.2240 – 1.2290
- Support: 1.2135 – 1.2100 – 1.2030