EURUSD Weekly Forecast | 29th May 2023

Fundamental Backdrop
  • Last week, notably the German Flash Manufacturing PMI and French Flash Services PMI dropped a lot causing the EUR to weaken.
  • This week there's only the German Prelim CPI m/m which is also expected to decrease from 0.4% to 0.2%. This will cause the EUR to weaken further.


Technical Confluences
  • Near-term resistance level at 1.07350
  • Next support at 1.05340


Idea
We could see the EUR drop towards the support at 1.05340 by the end of the week.






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