Industrial production in the eurozone grew at a slower pace in September. It rose just 0.1% during the period compared to a 0.4% increase the month before.
This was the slowest pace of increase in four months. But the data was slightly better than forecasts. On a year over year basis, the eurozone’s industrial production is up 1.7%.
EUR/USD Holds Steady at Support
The common currency was consolidating near the support area of the 1.1000 region. Price action, according to the Stochastics oscillator is showing a bullish divergence building up.
The currency pair needs to close above 1.1015 in order to confirm the upside. The breached support area at 1.1062 will likely be tested for resistance.
