EUR/USD: The pair resumes its drop to new lows, the us Dollar strengthens


EUR/USD, Euro-Dollar

The Euro Dollar, increasing its decline in the mid-morning, with new lows on the 1.1884 for the moment.

The pair EUR/USD suffers largely from a renewed interest in the Dollar, which is notably visible on the Dollar Index has just touched a new peak in 2018 to the top of 92.97.

German industrial output above expectations, the only important statistic released this morning, has not been able to support the pair.

From a graphical point of view, EUR/USD comes in on the lower bound of the downtrend channel visible in the hourly data since 2 May, which could generate a rebound. If the drop increases in the channel, little support can be identified before 1.1800-1.1820.

Has the upside, a return above 1.1950 and the moving average 100 hours would significantly reduce the profile is bearish for the short term.

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