EUR/USD: The pair took advantage of the rebound of the Pound and the correction of the Dollar

© O Financista. EUR/USD took advantage of the rebound of the Pound and the fall in the Dollar

Although the movement is slow, the EUR/USD pair finally begins to confirm a break above the psychological threshold of 1.13 Wednesday, boosted by the rise of the Pound and the Dollar’s decline.

The GBP/USD goes back to the effect above 1.32 this afternoon, after having started the european session to 1.31. After having suffered severely yesterday for rejecting the agreement presented by Theresa May at the british Parliament, the Book benefits from today’s hopes about a new vote which will take place today, and that should lead to the exclusion of the possibility of an exit from the EU without an agreement.

On the side of the Dollar, it should be noted that the statistics for US disappointing released this afternoon eventually weighed, after an initial reaction to the almost non-existent on the part of the greenback. It should be remembered that the durable goods orders index and the production price had proved disappointing.

From a graphical point of view, several breaks important techniques have been confirmed today :

  • Break above the trend line is downward visible from the peak of 28 February
  • A break above the moving average 200 hours
  • A break above the psychological threshold of 1.13

If the EUR/USD pair manages to hold above 1.13, it will be considered a continuation of the rise towards the next resistance located at 1.1320-25, 1.1350-55, 1.14, and 1.1420.

In the case of a return under 1.13 and acceleration to the downside, the initial supports to watch will be located at 1.1275, 1.1250, 1.1220, 1.12 and 1.1175.

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