© O Financista. EUR/USD remains under pressure
By David Wagner
Investing.com – The EUR/USD pair accentuates again its fall on Tuesday morning, testing the support of 1.1150 with a low at 1.1144 for the moment.
The main information that can be noted since yesterday is the fact that the USA is partially (and temporarily) back in regards to the banning of Huawei in the u.s. territory.
This has seemed to support the Dollar, as evidenced by the strong rise in the Dollar Index since early this morning.
Today, investors ‘ attention should remain focused on the relationship China-USA, with an economic calendar which will also be empty, only the sales of existing housing units, US being in the program, at 16h.
From a graphical point of view, it should be noted that a further decline would put EUR/USD in the face of a next target at 1.1135 (low May 3) and then to 1.1110 (hollow annual 2019).
The increase, the moving average 100 hours at 1.1180 and especially the psychological threshold of 1.12, which is where the moving average 200 hours, will be the first resistance to monitor.
Above 1.12, we may assume that the bearish view immediate is called into question, and it will be possible to consider targets upward to 1.1225, 1.1265 and 1.13 in a first time.