EUR/USD: The Euro continues its decline, new lows for the year ahead?

© O Financista. EUR/USD: The Euro continues its decline, new lows on an annual perspective this Tuesday? – After a weak attempt to rise yesterday morning, the pair EUR/USD has a mad confirmed the downward trend of the background that animates from the top post-Fed meeting on 20th march.

Recall that the Euro-Dollar had throughout the day ignored a number of important statistics, which were, however, excluded from the consensus : european PMI data, retail sales in the US and PMI manufacturing in particular.

It took indeed expect the manufacturing ISM to US in the month of march, which is found to be superior to the expectations, in order for the Dollar to react to the increase, sending EUR/USD down.

This movement led the pair to test the psychological threshold of 1.12 with a hollow at 1.1195 early this morning, and in the case of confirmation of a break below this level, the next goal bear will be located on the hollow annual 2019, at 1.1175.

The increase, the moving average 100 hours to 1.1235 is the first potential obstacle, before 1.1250 and 1.13.

In the news of the day, it should be noted that the Brexit also continue to weigh on EUR/USD via the correlation with the GBP/USD, which suffers from the uncertainty renewed last night after a vote is inconclusive to the Parliament UK.

Finally, it should be noted that in the economic calendar, the only important statistic will be the durable goods orders US, expected at 14: 30.

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