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EUR/USD still has some work to do - Scotiabank

Analysts at Scotiabank argued that EUR/USD’s rejection of the low 1.15 area looks a fair bit more compelling from a technical point of view as spot moves through short-term trend resistance.

Key Quotes:

"The EUR still has some work to do and we see a cluster of minor technical points between the 1.1720/45 area that may constitute a belt of price “congestion” to hamper EUR gains in the near-term."=

"However, the EUR sell-off is very stretched and prone to a modest rebound at least from here."

"Above 1.1750 is technically positive. We see support intraday at 1.1645/50 now."

EUR/USD spikes up to 1.17 on Italy headlines before retreating back to 1.1670

The EUR/USD pair quickly jumped to a fresh session high at 1.17 after latest headlines from Italy revealed that 5-Start and League were close to reach
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US: Oil production increases to record 10.47 million bpd in March - EIA

In its latest monthly report, the Energy Information Administration (EIA) said that the crude oil production in the United States increased by 215,000
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