The latest current account details for the eurozone saw a decline. Data for September showed that the current account surplus fell to 28.2 billion. This was down from the previous month’s print of 28.5 billion.
On a yearly basis, the current account surplus was at 21 billion.
EUR/USD Consolidating Near Resistance Area
The currency pair was trading rather modestly on Tuesday. Price action is confined to the resistance area between 1.1062–1.1075. The consolidation could see a breakout in either direction.
With the Stochastics oscillator already in overbought levels, it is likely that we could expect a decline in the near term.
