EUR/USD: The Euro is weakening on the background of doubts over the forecasts of the ECB


© Reuters. EUR/USD falters, doubts on the growth outlook for the ECB

Investing.com – The EUR/USD pair lost some ground on Tuesday morning, passing under the psychological threshold key of 1.13 with a recent low point in the daily 1.1280.

The origin of this drop seems to be related to the information of Reuters, according to which “a significant minority” within the ECB doubt the forecasts of the Central Bank of an economy’s rebound in the second half.

The ZEW index of business climate of germany, who proved to be above expectations, returning to positive territory for the first time since march 2018 has not been sufficient to compensate for these rumors disturbing.

This afternoon, these are basically the figures of industrial production in US in the month of march, which will need to be monitored, at 15: 15.

From the point of view of technical analysis, a confirmation of the break below 1.1285 would be an important bearish signal, which could target the next support at 1.1250, then 1.12 and 1.1175, the low annual 2019.

The upward trend line visible since April 2 and is currently situated towards 1.1275 will also be monitored as a support.

The increase, it is necessary that EUR/USD returns above 1.13 so that we can look forward serenely to purchase a little bit durable.

Like this post? Please share to your friends:
Leave a Reply