FXStreet – After several Attempts failed in the stubborn Resistors just before the 1,0870 to overcome, it came to a downward movement of the EUR/USD with the European trade, and now there is a slight recovery from the 1,0856 days deep.
EUR/USD fails close to the 5-day MA of 1,0878
The downward correction of the USD is Faltering, and so he rose against its main competitors, which increased the selling pressure in the Pair. The US Dollar Index, which represents the strength of the USD vs. its 6 most important rivals, turns to 99,55 into a positive one, after the Low at 99,44 was formed.
The Greenback appreciated against the single currency before the US data in the Form of CPI and retail sales will be released after the yesterday, the PPI and the labour market data was better than expected portions.
The downward movement is limited by the weaker Performance of Treasury yields and the decline in European shares. The optimistic comments of ECB member Lane to offer the Euro support.
• EUR/USD analysis: downside potential continues to
• EUR/USD rallies, be it in the area of the 1,0900 hard
EUR/USD technical levels
Of Windsor Brokers Ltd. Analyst Slobodan Drvenica States: “The Couple must rise above the 10-SMA, currently 1,0906 to signal a stronger recovery.After the consolidation there may be new Attempts to the bottom, which is under the 200-SMA of 1,0824 can be expanded and then a closing of the Gap from the 24 threatens. April. The Couple is set to add to the way a weekly closing price in the loss, and to form on the weekly chart a bearish Engulfing, which is a strong bearish Signal. Resistances: 1,0870; 1,0892; 1,0906; 1,0932 Supports: 1,0852; 1,0838; 1,0824; 1,0794.”
** FXStreet News Editorial, FXStreet**