Investing.com – The fall of the pair EUR/USD has intensified on Wednesday morning, to a low point on the psychological threshold of 1.12, but the pair then bounced up to a peak daily at 1.1230.
If the technical factors gave the first impulse of the rebound, thanks to the support of psychological support of 1.12, it should be noted that the economic calendar has also played in favour of a rise of the Euro-Dollar this Wednesday.
The CPI for the month of June of the euro area was revised up this morning, while the building and building permit US released this afternoon were disappointed, weighing slightly on the Dollar.
However, although the rebound of the EUR/USD today has led the pair to break above the trend line downward visible in the hourly data since the beginning of the week, the bullish reversal is still far from being confirmed.
In fact, that it considers that the buyers have the chance of returning to a sustainable control of the market, it will be necessary first to pass over the top of 1.1235-40, an area where the lows of last Friday and the moving average 200 hours.
The next resistances will lie next to 1.1250, 1.1280 and 1.13.
However, at this stage, it is necessary to consider the possibility that the rebound posted by the Euro today turns out to be in the final especially a sales opportunity.
Has the decline, the psychological threshold of 1.12, coupled to the former support 1.1180 form a strong support zone, under which it will be allowed to consider a return to the hollow, the annual area of 1.11.
Finally, it should be noted that the economic calendar tomorrow will still be a few opportunities to see the pair EUR/USD move, with the index of the Philadelphia Fed and the inscriptions weekly unemployment US.