Italy is targeting GDP growth of 1% for 2024. That is above economist estimates.
Meanwhile, the EURUSD is trading near lows for the day but above the support at the 61.8% retracement of the move up from the February low at 1.08036, and above and swing low going back to the end of February and early March at the 1.07955.
Earlier today, the price fell below its 200-day moving average and 50% midpoint at 1.08374. That is now close resistant. I would expect sellers to be disappointed if that level is rebroken to the upside – at least temporarily.
This article was written by Greg Michalowski at www.forexlive.com.
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