© O Financista. The record of consumer confidence in the US weighed on the EUR/USD
(Investing.com) – The Dollar remains supported, and the EUR/USD pair under pressure with new lows daily following record of consumer confidence in US displayed this afternoon.
The index of consumer confidence according to the University of Michigan has in effect jumped to 102.4 points for the month of May, compared to 97.8 in advance and 97.4 earlier, the highest since February 2014.
It should be noted that this is the sub-index of expectations, which is mainly the origin of the right of the index, which gained nearly 10 points, from 87.4 to 96 points.
In the Face of this statistic, the pair EUR/USD has thus suffered from the rise in the Dollar, with for now a new low every day at 1.1155. The hollow may 3, at 1.1135 seems to be the next potential target, before the lowest annual April 10 at 1.1110. Then, it is the psychological threshold of major 1.10 which could be directly referred to, in the absence of graphic support concrete before this area.
A return back above 1.1200-10, where are the moving averages 100 and 200 hours, will be necessary to weaken the negative bias current.
Finally, it should be noted that the economic calendar next week will provide several opportunities to see the volatility increase, with the Minutes of the last Fed meeting on Wednesday evening, and the PMI indexes are preliminary european of the month of May on Thursday morning.