The EUR/USD is struggling to build on its rebound in spite of the figures are reassuring

© Reuters. EUR/USD, Euro-Dollar

The rise of the pair EUR/USD seems to find its limit this Friday, after the strong rebound of last night.

The Euro Dollar had in fact welcomed the agreement on immigration signed in-extremis in the framework of the summit of the EU, which has reassured the market.

Recall that the political future of Angela Merkel was closely related to its ability to obtain an agreement on immigration at the EU summit. Italy had warned that she would validate any agreement without action on immigration.

However, after having strengthened its increase up to test two times the area of 1.1660 as of this morning, the EUR/USD pair seems to have difficulty maintaining a positive dynamic, in spite of some of the statistics reassuring.

It should be noted in particular that the number of unemployed in Germany fell more than expected in the month of June (-15k vs. -8k expected), while the CPI preliminary in the euro area the month was as expected, accelerating to 2%, after 1.9% in the previous month.

Several statistics will still be likely to influence the EUR/USD on Friday, with household spending US index and the PCE at 14: 30, before the index, Chicago PMI at 15.45 and the consumer confidence index from the University of Michigan (16h.

From a graphical point of view, resistance of short-term shape to 1.1660-65, before 1.1675, 1.1690-1.17 and 1.1720.

The downside, the supports of the closer can be spotted 1.1615-20, 1.16, 1.1570, 1.1550, 1.1530 and 1.15.

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