EUR/USD soars on disappointing US data ahead of busy weekend

After a bearish start to the day that gave the place at a hollow at EUR/USD hit 1.0782 higher yesterday afternoon, pushing its rally up to 1.0782. a vertex at; 1.0892, and remains close to this threshold on Wednesday morning, at 1.0860 approximately.

Remember that the dollar has been affected by several disappointing US statistics, which argued in favor of a pause in the Fed's rate hike. Indeed, the JOLTS report reported job vacancies below consensus, while consumer confidence also disappointed.

Facing these figures, the probability that the Fed refrains from raising rates at its next meeting on September 20 has climbed; to 88%, compared to 78% the day before. Moreover, the probability the Fed resuming rate hikes in November after a pause in September fell sharply. to 43.4% according to the Fed rate barometer, against nearly 50% the day before.

In this context, the Dollar fell; facing most forex currencies, including face to face; the Euro, which explains the net rebound of the EUR/USD.

As for the next big events for the currency pair, this Wednesday will be marked by inflation data from Germany, with several regional CPIs in the morning. ;e, and the expected national index at agrave; 2 p.m.

>> Find in real time the result of all the important statistics for EUR/USD in the economic calendar

À 2:15 p.m., the forex's attention will next turn to the ADP (EPA:ADP) report on private sector job creation, ahead of the Pledges of Residential Home Sales data. 4pm.

In other words, it will be a pretty busy day for EUR/USD. À Note however that this week's most important data, the PCE price index and the NFP report, are due on Thursday and Friday respectively, implying that moves in the EUR/USD and forex in g are still expected. may remain limited before.

Technical thresholds at watch on EUR/USD

From a chart perspective, the return above the 200-dma and the 1.08 threshold are positives for EUR/USD .

However, the currency pair is now facing an upside down. an immediate resistance zone, formed by the psychological threshold of 1.09 and the 100-day MA at 1.0924. Higher up, the next potential targets will be the key threshold; of 1.10, then that of 1.11.

À on the downside, the 200-day MA at agrave; 1.0810 and the 1.08 threshold form the first area of ​​support, before last week's low towards 1.0765, then 1.07.

EUR/USD surges facing disappointing US data ahead of a busy weekend  

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