The EUR/USD has corrected from its recent highs, but has a strong support

After having accentuated its rise in the first trade of the week yesterday evening, the pair EUR/USD has corrected this on Monday, the Dollar regaining ground.

Recall that last Friday, the Dollar had been strongly affected by the dovish stance of the boss of the Fed, and especially by the escalating surprise of the trade war, with the announcement of new tariffs against US on the part of China, and with a series of tweets from Trump, promising retaliation.

The announcement over the weekend of retaliation, the US has maintained the tension during the weekend, which is why the new peak marked last night on the EUR/USD pair.

However, Donald Trump was able to reassure the markets, and back the Dollar, saying that discussions with China are continuing, and that an agreement is still possible.

And even if none about similar has not been noted on the part of China, this was enough to improve the market sentiment, and reduction of the pair EUR/USD while the Dollar rose.

In regards to the economic calendar, it should be noted that durable goods orders were up +2.1% against +1.2% expected and +1.9% previously.

However, in the current context of commercial war, these figures seem to have been igorés by the traders, with no significant impact on the pair EUR/USD for the moment.

From a graphical point of view, it should be noted that the retracement of 50% of the rise from last Friday to yesterday evening at 1.1107, the moving average 200 hours to 1.1104 and the psychological threshold of 1.11 form a first support zone important. Below this threshold, it is assumed that the sellers take over. Below, you will find other media to 1.1050, 1.1025, and 1.10.

In case of return of the increase 1.1150, as well as the summit yesterday evening at 1.1163 will be the initial resistance, before the psychological threshold of 1.12.

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