The euro in forex trading on Monday as a result of a downward correction of greenbacks, and reduce political tensions in the euro area strengthened. In Italy, the coalition of right-wing parties "League" and "Five Star Movement" at the second attempt managed to form a government headed by Prime Minister D. Conti, and in Spain the parliamentarians voted for a vote of no confidence in the government of M. Raho. The new prime minister was the head of the Socialist Party, P. Sanchez, who, like his predecessor, takes a pro-European stance. Today, euro zone data on the index of producer prices have been published. In April, the index remained unchanged compared with the previous month, while in annual terms increased by 2%, with projected growth of 0.3% and 2.4%, respectively.
Technical analysis of the euro buyers retreated, and the exchange rate EUR / USDD failed to consolidate above the 1.1730 resistance level. If the bulls on the euro will be able to once again break through and build on the success, the pair EUR / USD will continue to rise to the level of 1.1830, and above - 1.1910. Breakdown vendors EUR / USD 1.1645 level, the euro will push quotes to 1.1600 and possibly lower.
Based on materials WELTRADE