EUR/USD: The bounce is stronger after the ISM manufacturing index US disappointing

© O Financista. EUR/USD starts the week on the upside

The EUR/USD pair is finally gaining ground in this beginning of the week, after a few hesitations in the first part of the day.

Recall that the pair had started the week higher, with a peak at 1.1190 t^t this morning, but it was ravisée this morning in early european session, falling back on a low daily at 1.1160, before starting to increase again and test the psychological threshold of 1.12 with a peak at 1.1208.

It should be noted that the Dollar appears down since the re-opening of weekly forex, in part, in connection with expectations of more more established in terms of rate cuts from the Fed this year.

It should also be noted that although the EUR/USD pair has made the most of his increase every day before the publication of the ISM manufacturing index for the month of may, it is this one, which came in at 52.1 points, compared to 53 in advance, which gave rise to the peak daily.

The caution will remain for buyers of Euros, the market is likely to be reluctant to support an increase of the single currency too much at the top of 1.12, the face of the risks that weigh on the european economy, and, in particular, faced with the prospect of a standoff between Italy and the EU on the issue of fiscal discipline.

At the top of 1.12, the next resistance will be the top of last week at 1.1215, before 1.1225, 1.1265 and 1.13.

In 1.12, the area of 1.1175 will be the first support the potential, prior to 1.1140, 1.1115 and 1.1106, the low of this year.

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