German Balance of Trade stronger than expected
Christophe Chevalier August 7, 2020 2:11 AM
This morning, June German Balance of Trade was released at EUR 15.6 billion surplus, much higher than EUR 1.4 billion surplus expected.
This morning, June German Balance of Trade was released at EUR 15.6 billion surplus, much higher than EUR 1.4 billion surplus expected. Also, June Industrial Production was published at +8.9%, vs +8.1% expected.
From a technical point of view, on a daily chart, EUR/USD remains on the upside and is supported by its rising 50-period moving average (in blue). Readers may therefore consider the potential for further rise above support at 1.1490. The nearest threshold would be set at horizontal resistance at 1.2000 and a second one would be set at previous overlap at 1.2150 in extension.
Source: TradingView, GAIN Capital
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