EUR/USD Outlook (5th April 2019)

• Pessimism in Italian growth forecast
  

Price Movement
Since yesterday, EUR/USD moved down by around 35pips before moving back up by around 25pips.

Trend
EUR/USD is trending downwards.

Important Issue
Yesterday, the Italian Treasury is said to cut GDP forecast for 2019 from 1.0% to 0.1%.
It will also be raising its projected budget deficit.

Technical
EUR/USD is hovering above the support level of 1.12.

Price Levels
Current Price: 1.12258
Next Resistance: 1.14200
Next Support: 1.12000