EUR/USD accelerates lower to finish the week
Investing.com – After attempting to move forward with a peak of 1.1410 in the early afternoon, it is the drop which will ultimately prevail on the pair EUR/USD, with new lows weekly to 1.1360 as the european session neared its end, the lowest since January 4.
The figures of industrial production in US in the month of December, which are displayed at the top of expectations, are probably not foreign to the good performance of the Dollar to the origin of this decline of EUR/USD (the Dollar Index has marked a peak to 95.98 points for time this Friday, after a more everyday low to 95.62 at mid day).
The industrial production is, in fact, came out at +0.3% versus +0.2% forecast, but above all, the manufacturing output increased 1.1%, versus +0.3% anticipated, the strongest increase in 10 years.
Hopes of progress in the negotiations on China-USA, the information of the Wall Street journal yesterday evening, contribute also to the good performance of the Dollar, even as the progression of the US stock exchanges, which continue to rebound after having already closed up yesterday.
From a graphical point of view, it should be noted that the pair EUR/USD has broken below the range 1.1370-1.1425, returning to a profile chart is bearish. However, the next major support at 1.1350, has not yet been tested.
Below this threshold, it is then the psychological threshold of 1.13, as well as 1.1270 and 1.1215 (hollow annual 2018), which will be the next support potential to monitor.
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