Performance for the Day
The common currency is currently range-bounded in the 1.1625 – 1.1560 area with the market closing at the top of the range on Tuesday 18th June 2018. Price is expected to bounce to the 1.1715 area but this is yet to happen due to lack of catalyst that will give the currency pair a fresh impetus.
The main focus tomorrow will be the European Central Bank President Draghi’s speech on the macroeconomic calendar.
To the upside, the 1.1651 area is to be watched as a strong break above this level will signal more bullish correction of the pair to the 1.1715 area. A strong break below the 1.1585 area will signal a bearish move of the pair to the 1.1515 area.
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