The pair EUR/USD consolidates between 1.1750 and 1.1775 following the downside breakout this morning.
In fact, after the consolidation around the 1.1800 yesterday, EUR/USD fell this morning under the support of 1.1775, reinforcing the bearish view in the 1.1825, but failed to accelerate further.
The movement slows down above the 1.1750, marking a narrow range between 1.1750 and 1.1775 since the european opening.
The publications of the ZEW and CPI in the euro zone have not helped to revitalize the Euro Dollar, while the publications of this after will not have a greater potential for influence.
On the economic calendar we will follow the price indexes to the import and export, as well as the industrial production, publications that usually have only a slight impact on the Forex.
In terms of technical analysis, it is necessary to first break the range of 1.1750/1.1775, to find a direction, even if at this point the negative bias instead suggests a decline in the direction of 1.1720.
1.1720/1.1680, which remains an important area of support to break in order to continue the bearish correction from the top of 1.2090.
Below we can then target the 1.1660 then the area of 1.1620/1.1580.
Has the upside, first resistance comes at 1.1775, before the 1.1800 and 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 1.1757 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.