After a bearish start to the day that saw EUR/USD fall to as low as 2018. a hollow at 1.0675, the currency pair gained respite with the help of disappointing US statistics which caused the Dollar to fall.
The Euro Dollar is indeed displayed on the charts. 1.0726 at time of writing, after peaking at 1.0726 1.0732 earlier on Tuesday morning.
Recall that the EUR/USD lost ground until mid-afternoon on Monday, before orders started to drop. the US industry and the services ISM are not weighing on the Dollar. The commands to industry have indeed progressed; by 0.4% in April against +1.1% anticipated, while the ISM for services fell; to 50.3 points for May, against 51.8 anticipated.
It should be noted, however, that although the downward impact of these figures on the Dollar was indisputable, they did not impact expectations for upcoming Fed decisions. The probability of an absence of a rate hike on June 14 is indeed 73.6% this Tuesday morning against 80.5% the day before, according to the barometer of the Fed Investing.com.
Regarding the On Tuesday, the economic calendar will be almost empty of potentially influential EUR/USD statistics, except for with the exception of retail sales from the euro zone to France. 11 a.m.
Technical thresholds at; monitor on EUR/USD
From a graphical point of view, the evolutions of the EUR/USD pair on Monday did not impact the price. the overall bias significantly.
The currency pair facing immediate support to 1.07, before another support for; 1.0635 last week low. Then 1.06, then the threshold of 1.05, at proximity of the 200-day MA (1.0507) will be the next potential supports.
À the upside, yesterday's high at 1.0780, the psychological threshold of 1.08 and the 100-day MA at; 1.0810 forms the first area of significant resistance, before the round thresholds of 1.09 and 1.10, then this year's peak at 1.0810. 1.1095.
EUR/USD tentatively tries to rebound at the start of a light day