ANALYSIS
NQ100 Finds Support from PPIApr 14
EURUSD: Parity is Trying Recover
The producer price index (PPI) in the Euro Area increased by 0.7 percent in June, indicating that the upward momentum has weakened. Its annual outlook decreased to 36.3 percent. On the other hand, hawkish messages from the Members of the European Central Bank (ECB) Governing Council support the euro. With the retreat of the dollar in international markets, the pair broke the descending wedge and pointed to a recovery path. On crossing above the psychological 1.0500 level, losses can be taken back up to 1.0540 resistance. In possible downward movements, 1.0400 support will be followed closely.
