The pair EUR/USD retreats a little pus on the Forex following the publications US.
In fact, after the break of the 1.1775 earlier this morning, the bearish view had of the evil to grow stronger, with support towards the 1.1750.
However, the decline has resumed this afternoon, with a break below 1.1750, with the help of the publications US.
The consumer price index to the import came in at 0.7% against 0.5% expected and 0.6% previously, while that of the export is displayed at 0.8% vs. 0.4% expected and 0.7% previously.
Industrial production rose 0.3% as expected after the fall of -0.7% previously.
Even if there is no immediate impact on the Forex, this contributes to the Dollar’s rebound and break of EUR/USD below 1.1750.
The Euro Dollar is now expected to gradually to the 1.1720 where the support zone of the 1.1720/1.1680 remains an important hurdle to overcome before resuming the downside correction for the short term.
We will monitor then the threshold of 1.1660, 1.1620 and 1.1580.
Has the upside, first resistance comes at 1.1750 before the 1.1775 and 1.1800, but especially 1.1825. A break above would trigger the bias bullish for a possible test of the zone of 1.1860/1.1880, which has limited the last bounce.
Above, the increase is likely to be strengthened in the direction of the 1.1900 and 1.1920 in a first time.
The pair EUR/USD is currently trading at 1.1743 on the Forex.
Chart EUR/USD H1
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This chart has been realized with the trading platform TradingStation 2 provided by FXCM France.