EUR/USD gained ground despite the disappointing Industrial Production report from Germany. The report showed that Industrial Production decreased by -0.7% month-over-month in March, compared to analyst forecast of +0.5%.

Germany’s Exports increased by +0.5% month-over-month in March, while analysts expected that they would decline by -1.7%. The better-than-expected Exports report from Germany provided additional support to the European currency.

A successful test of the resistance at 1.1765 – 1.1780 will push EUR/USD towards the resistance level at 1.1850 – 1.1865. RSI remains in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge.

GBP/USD Gains Ground As Traders React To UK Elections Results