© Reuters. EUR/USD drop following the GDP US
Investing.com – The EUR/USD pair is clearly sanctioned following the publication of the GDP US Q4 2018, the Euro has quickly reversed the increase observed this morning, passing under the psychological threshold of 1.14.
GDP US preliminary Q4 2018 gdp growth of 2.6%, as against 2.4% to 2.6% expected in function of the different consensus, with a price index of GDP, also higher than expected at 2% compared to 1.5-1.7% advance.
The Dollar has naturally welcomed the publication, resulting mechanically in a correction of the EUR/USD, which for the moment marked a low point in post-GDP at 1.1382, after a peak at 1.1420 in the early afternoon.
The lower bound of the uptrend channel visible since mid-February, which is currently located towards 1.1375, will be the next support to monitor, before the moving average 100 hours at 1.1365, and the moving average 200 hours to 1.1348.
Under these thresholds, we may consider that the upward trend of short-term is no longer current, and the attention may turn to the media to 1.1325, 1.13, 1.1275, 1.1250 and 1.1233.
Finally, it should be noted that the next event likely to influence the Euro-us Dollar will be the index, Chicago PMI, expected at 15: 45.
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