EURUSD Analysis 13.03.2019

The euro fluctuated today after the opening of the Asian session in a narrow range tends to stall against the US dollar, before the economic data to be released on Wednesday from the European economy and the US economy.

During the Asian session, the EURUSD fell 0.05% to 1.1281, compared to the opening at 1.286 after reaching a high of 1.1288.

Looking ahead to today's economic data from Italy, the third largest economy in the eurozone, the Unemployment Rate Index will rise to 10.5% from 10.2% in the third quarter before we see the biggest eurozone economies reading the industrial production index, which may reflect a rise of 1.0 Versus 0.9% decline last December, while the annual reading of the index may show a decline to 2.1% from 4.2%.

Markets are also looking to release the Producer Price Index (PPI), a preliminary indicator of inflationary pressures, which may reflect a 0.2% expansion versus 0.1% contraction in January, while the annual reading of the same index may show a slower growth to 1.9% versus 2.0% Previous for January.

The core reading of the PPI shows a slowdown in growth to 0.2% from 0.3% in January, while the core annualized reading of the same index may reflect a 2.6% growth rate unchanged from the previous December reading, Before we see a reading of the construction spending index, which could reflect a rise of 0.4% versus a 0.6% decline in December.

Technical Analysis

Yesterday, the EUR managed to breach the 1.1257 resistance level and close above it to start with the upside scenario and the resistance target 1.1312, which has the 20 MA which is a very important move to return to the upside.

The bullish trend for the day is bullish as long as trading remains above 1.1260