EUR/USD: The euro steadied near the 1.1300 handle, but remained under pressure after two sources familiar with the European Central Bank’s policy discussions said that the central bank was open to cut interest rate if the bloc’s economy stagnates again. The European currency traded 0.05 percent up at 1.1314, having touched a high of 1.1347 on Friday, its highest since Mar. 22.
Investors’ attention will remain on Eurozone Sentix investor confidence index, ahead of the U.S. producer price index. Immediate resistance is located at 1.1359 (Mar. 18 High), a break above targets 1.1402 (Feb. 16 High). On the downside, support is seen at 1.1263 (Mar. 26 Low), a break below could drag it below 1.1201 (May 14 Low).
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