The European currency in trading forex on Friday strengthened at weakening greenback quotes, and the relative calm in the markets. Mario Draghi, the head of the European Central Bank in its statement Friday said slowdown in the Eurozone economy in the third quarter, but reassured investors, and expressed confidence that this phenomenon is temporary. Released on Friday, statistics for the euro area were in line with forecasts. The consumer price index increased by 0.2% in October, while in annual terms by 2.2%. The base value of the index has increased by 1.1%. US data released on industrial production. In October production increased by 0.1% with growth forecast at 0.2%.
Technical EURUSD forecast today: Quotes of the euro dollar pair on Friday broke through the resistance at around 1.1360, thus buyers euro had an opportunity to test the level of 1.1440. Friday the EURUSD trades completed at the price of 1.1419, the dollar if the euro buyers will be able to break and consolidate above 1.1440 resistance, is likely to continue the upward trend rate EUR / USD to 1.1530. Otherwise, if successful offensive euro sellers will return quotes below the level of 1.1360, the pair may fall to 1.1300.
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Based on materials WELTRADE