Positive economic data from China gave investors hope that the ongoing crisis may be not as terrible as forecast. The euro and the British pound strengthened after the report on the Chinese industrial production amid increased risk appetite.
Signals for the EUR/USD pair:
If the pair breaks through the level of 1.0905, the euro is likely to rise to 1.0965 and 1.1040.
A breakthrough at 1.0857 may lead to the sell-off of the euro at 1.0814 and 1.0770.
Signals for the GBP/USD pair:
The euro is expected to increase to 1.2573 and 1.2632, if the pair breaks through the level of 1.2525.
A breakthrough at 1.2493 is likely lead to the sell-off of the pound at 1.2402 and 1.2294.
Fundamental data:
Germany's consumer price index data and the number of the first-time jobless claims in the US are set for releas today.
