The euro got a boost from the latest industrial production figures. Data showed that the eurozone’s industrial production grew 0.9% on the month in May. This was better than the forecasts for a 0.2% increase. Despite the uptick in industrial production, the overall industrial activity still remains weak.
Will the EURUSD Push Higher?
The currency pair has been in a rebound after prices fell close to the support area of 1.1188 last week. Price action quickly recovered to reclaim the 1.1250 level which is currently working as support. A continuation to the upside will keep the common currency on track to test the 1.1400 level where resistance is likely to form.
