EUR/USD: A zone of major resistance blocks the rise of the Euro-Dollar


© O Financista. EUR/USD remains stuck below the threshold of 1.15

Investing.com – once again, the moving average 100-day, currently at 1.1484, and the approach of the threshold of major psychological 1.15 blocked the attempt of increase of the EUR/USD pair, which continued until late into the night, with a peak at 1.1484.

Note that the pair EUR/USD had benefitted from several factors bullish yesterday, with first a Dollar on a downward slope after the declarations dovish Powell last week.

Retail sales in european, higher than the consensus for the month of November, had also supported the Euro.

But it is a new acceleration to the downside in the Dollar yesterday afternoon, which was at the origin of the largest part of the increase. The Dollar has again been under pressure after the publication of the ISM services US below consensus.

Today, some statistics will be likely to have an influence on the trade, with the trade balance US 14: 30, and the report JOLTS on the job offers US, at 16h, two economic indicators traditionally less influential on the Forex in the short term.

Investors may therefore largely stay on the sidelines today, especially as events are potentially very influential are expected later this week, with the Minutes of the Fed tomorrow evening, and a speech by Powell on Thursday afternoon, two events that could help to refine expectations of a rate US to 2019.

From a graphical point of view, the moving average 100 days to 1.1484 and the psychological threshold key of 1.15 to constitute an important resistance, which will no doubt be difficult to overcome without a strong catalyst in the news.

Has the decline, the psychological threshold of 1.14, the moving average 100 hours at 1.1405, and the upward trend line visible in the hourly data since the 14 December to form the first zone of support material on the Euro-Dollar.

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