© O Financista. EUR/USD retreats again
Investing.com – The EUR/USD pair continues to fall Tuesday morning, with new low of 1.1413, while traders await several european statistics this morning.
We will monitor in effect at 9: 55 PMI services German the month of January, expected to conform to the preliminary estimate, to 53.1 points.
At 10 am, this is the same index for the entire euro area which is to be expected, and the consensus anticipates also unchanged data to 50.8 points.
Finally, retail sales for the month of December in the Euro Area is expected to 11am will also be likely to influence the Euro, with a fall of -1.5% expected, after +0.6% previously.
Apart from these statistics, we must not forget also to monitor the speech on the State of the Union of Donald Trump, during which he will no doubt expect comments potentially influential on trade policy and relations with China.
From a graphical point of view, it should be noted that after having broken below an upward trend line visible since January 28, yesterday, the pair EUR/USD is sending a new bearish signal this morning breaking below its moving average of 200 hours (1.1422)
At this stage, the next support potential lies on the psychological threshold of 1.14, before 1.1380, 1.1350 and 1.13. The increase, the first critical resistance is around 1.1450, a threshold, or is also the moving average 100 hours.
Beyond that, the next resistances are located at 1.15 and 1.1514, the summit last week.
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