The Euro continues its fall against the dollar
Investing – The EUR/USD pair accelerates its fall in the face of the us data this afternoon, with a new low on the 1.1575, its lowest level since June 28.
The index of the Philadelphia Fed is, in effect, reassembled at 25.7 points for the month of July 2018, compared to 19.9 above, and 21.6 anticipated by economists.
The inscriptions weekly unemployment have also been a good surprise, with fewer entries than expected, to 207k against 220k expected.
In the Face of these numbers, the Dollar has enjoyed a second wind in the rise already posted since this morning, weighing on the EUR/USD pair. In fact, the good news is coming for the american economy, which seems to help to make people forget about the potential negative consequences for the Dollar of the commercial war.
It should be emphasized, moreover, that the US Dollar Index shows today its third day of consecutive rise, demonstrating a clear inverse correlation with the pair EUR/USD.
From a graphical point of view, the Euro Dollar has now been sufficiently drilled under the psychological threshold of 1.16 so that we can confirm a break.
This psychological threshold is therefore to be considered as immediate resistance.
The decrease in the level of 1.1570, 1.1550 and 1.1507-00 (hollow annual threshold and psychological) are the next support potential close to current prices.