The pressure remains bullish on EUR/USD
Investing.com – The Euro-Dollar attempts to accentuate its rise on Wednesday, with a new top marginal at mid-day, to 1.1403 against 1.1402 (for the pic yesterday, but the area of psychological 1.14 and continues to appear as a resistance for now.
It should be noted that the Euro has benefited in the course of the morning about rather optimistic Jens Weidmann, the head of the German BundesBank, who believed that there was ” no reason to be too pessimistic about the economic slowdown. “
The increase in the GBP/USD, which exceeded the threshold key 1.33 for the first time since the month of July at mid-day, in the face of advances in cocnerne the Brexit, also contributes to the good performance of the EUR/USD pair.
This afternoon, some news out of the US will have to be monitored, with the promises of housing sales and the orders the industry to 16h. At the same time, the boss of the Fed will start his testimony before Congress US, in a speech that should prove to be a mere repetition of his intervention yesterday in the Senate.
From a graphical point of view, the trend remains positive, with a pressure on the resistance of 1.14 which makes it worse. Beyond that, the terminal high of the uptrend channel visible since mid-February, currently located at 1.1440-50, will be the next barrier potential before the threshold of major psychological 1.15.
Has the decline, 1.1370-75 is the first support to be taken into account, before 1.1350-55, which is currently the moving average 100 hours. Under this threshold, we may consider that the upward trend is immediately called into question.
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