The EUR/USD trend remains negative this Monday morning, after the currency pair significantly corrected. at the end of last week, marking a low below the key threshold; of 1.05 on Friday.
Recall that several US data had reinforced the Dollar, with the key a mechanically bearish impact on EUR/USD. We will notably recall the PPI and CPI higher than expected, the Fed Minutes more hawkish than expected, and rising inflation expectations according to the consumer confidence index of the University of Chicago. of Michigan.
Certainly, these figures did not impact the expectations for the next Fed meeting, with investors still largely anticipating a status quo for November 1, but investors now believe that the Fed will have to keep its rates at their current level for longer than expected.
In this context, the Dollar progressed, especially since it also benefited from its status as a safe haven, against the backdrop of the dollar. a tense geopolitical context following the start of the war between Israel and Hamas.
This week, several key statistics will be monitored, but the most important will undoubtedly be the US retail sales report, due Tuesday. As for this Monday, the EUR/USD will be likely to be influenced; by the New York Fed index, at 2:30 p.m.
>>Find all the important statistics for EUR/USD and their results in real time as soon as they are published on the Investing.com economic calendar!
Technical thresholds at to watch on EUR/USD
From a graphical point of view, the trend of the EUR/USD pair remains largely bearish, as evidenced by the descending trend line visible on the daily chart since in the summer last.
If the fall becomes more pronounced, the threshold of 1.05 will be the first potential support, before this year's trough marked earlier this month at 1.0450. Finally, in the event of a rebound in the Euro Dollar, the threshold of 1.06 and last week's high around 1.0640 will be the first potential obstacles.
EUR/USD threatens to fall further at the start of a busy week