EUR/USD : The bad news out of the US do not allow a rebound of the Euro Dollar

The pair EUR/USD remains near its lows following the publications US this afternoon.

Sales of new homes have fallen by -3.4% vs. 3.3% expected and -5.5% previously.

The consumer confidence according to the Conference Board declined to 119.8 against 120.0 expected and 120.4 previously.

On the Forex, the Dollar has not much responded.

EUR/USD remains close to its recent low, with a support in the area of 1.1780/75, which is tested.

A break below would trigger probably the downward movement in the direction of 1.1750.

Below we have then the important area of 1.1720/1.1680 that could slow down the fall in a prime time.

Conversely, if the support holds, and a fortiori, if we go back above the 1.1800, a rebound could take shape, with the area of 1.1825, which must be to maintain the downward pressure immediate.

Above, we could then find the area of the 1.1850/60.

On the economic calendar we will follow still this evening a speech of Yellen, which should not significantly influence the Forex, but if the Chair of the Fed makes comments on the monetary policy, the Dollar could react.

The pair EUR/USD is currently trading at 1.1785 on the Forex.

Chart EUR/USD H1

See also our charts EUR/USD in real time.

This chart has been realized with the trading platform TradingStation 2 provided by FXCM France.

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