EUR/USD is trying to increase its increase
Investing.com – The pair EUR/USD starts the week on the upside, managing to exceed the highs of last week (1.1344) with a new peak at 1.1350 this morning in the early european session.
This slight strengthening of the EUR/USD seems at this stage primarily due to weakness in the Dollar, in part in connection with the press information of the last weekend in which the top Trump-Xi intended to put an end to the trade war will be pushed back to the month of June.
The Brexit, rarely short of twists and turns, will be another major topic to watch on Monday as the prospect of an exit from the EU without the agreement (hard Brexit) has never been so practical.
On the side of the economic calendar, there is nothing to report, and it will have to wait until tomorrow to take knowledge of the first important statistic of the week : The ZEW index of business climate in German for the month of march.
From a graphical point of view, the new highs of this morning does not constitute a buy signal, the area of 1.1350-55 appears as a resistance material.
Above this threshold, it is then the psychological threshold of 1.14 that it will be necessary to monitor, before the summit from 28 February to 1.1420.
In case of correction, the psychological threshold of 1.13 will be the first important support to watch. Below this threshold, the chances that the vendors take the hand will increase, with the objectives of downside potential to 1.1250, 1.1220, 1.12 and 1.1175.