EUR/USD hesitates, to profit from the end of the week?

© O Financista.

The pair EUR/USD seems to be faltering, since yesterday, but still maintains a weekly review clearly bullish on the last day of trading of the week.

On Wednesday, the Dollar had been significantly affected by the testimony dovish tone of the boss of the Fed Jerome Powell in front of the Congress US, which had allowed the pair EUR/USD sharply bounce up to a peak at 1.1285 yesterday morning.

The Euro-Dollar was then engaged in a correction, linked to the CPI US better than expected for the final data for the month of June, which had strengthened the Dollar. The Minutes of the ECB, far from excluding the possibility of a rate decrease relatively imminent in Europe, have weighed the Euro.

The area of 1.1250, however, had protected the pair EUR/USD too sharply, but the subsequent rebound has been stopped before new heights are marked.

Today, the industrial production in europe significantly better-than-expected for the month of June (+0.9% against +0.2% expected) seems to have been ignored. The next statistics are likely to influence the exchanges will be the IPP american of the month of June, expected at 14: 30.

We will also take into account the possibility of profit-taking, while the weekly balance sheet report remains bullish on the pair for the moment.

From a graphical point of view, the support of 1.1250 is a threshold key, under which it is assumed that the bias becomes bearish, with 1.1230, 1.12 and 1.1180 as first objectives.

The increase, the peaks of yesterday at 1.1285 and the psychological threshold of 1.13 will have to be completed to confirm the increase and hope to join the next targets at 1.1350 and 1.14.

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