EUR/USD appears to have exhausted its potential, ahead of another burst of key data

Did the EUR/USD pair find its way? the limits of its increase, at least for the moment? In any case, this is what its evolution since yesterday suggests, the currency pair having failed to rise. à take advantage of good news.

Recall that the Dollar had been in decline. widely penalized by lower-than-expected US inflation data published on Tuesday, which caused the EUR/USD to jump.

However, the currency pair did not react to the figures also below yesterday’s IPP consensus, which can however be partly explained by higher retail sales meets the expectations published simultaneously.

Looking ahead to Thursday, the calendar of important forex statistics will remain busy, with price indices at high risk. import and export US exports, US weekly jobless claims, and the Philadelphia Fed index at 2:30 p.m., then with industrial production at 3:15 p.m., without forgetting several speeches from members of the Fed.

  • Find the results of all the important statistics for EUR/USD in real time on the economic calendar

The day could therefore turn out to be lively for forex in general and EUR/USD in particular .

However, given the recent strong rise in the currency pair, the disappointment would have to be heavy on several US indicators for the EUR/USD to progress significantly.

À Conversely, US statistics higher than expected which would boost rate expectations could significantly cause the EUR/USD to correct.

Technical thresholds at monitor on EUR/USD

From a technical analysis point of view, the weakness of the EUR/USD pair since yesterday is not yet sufficient to call into question the uptrend.

On the other hand, a break below the zone of 1.0790 – 1.0802 formed by the 100 and 200 day moving averages would constitute an important bearish signal which would give l’EUR/USD a more corrective profile.

In this case, 1.07 and 1.0750 will be the first potential supports to move forward. to watch. À the rise, Tuesday's peak at 1.0888 and the threshold of 1.09 form an immediate resistance zone, after which the key threshold rises. of 1.10 should be directly targeted.

EUR/USD seems to have exhausted its potential, before a new burst of key data  

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