FXStreet – the upward movement of The Euro against the us counterpart Thursday on the 1,09 limited, as the seller just below this level in the market.
EUR/USD: 5-day MA of 1,0902 keeps the cops in check
The renewed upward movement of the blow out was just ahead of the 1.09 a, and the Pair fell in the vicinity of the 1,0875. The mixed Euro zone growth and inflation forecasts by the European Commission seem to be for the recent downward movement.
• EK increases Euro zone’s 2017 GDP forecast, lowers inflation forecast
Add to that the new demand against the US Dollar, which impacted the EUR/USD. The US Dollar Index, which represents the strength of the USD vs. its 6 most important rivals, in the vicinity of the 99,35 new commandments, and so it comes to a recovery to the current level of 99.50.
The Couple could not benefit from the strength of the EUR/GBP. This climbed to 0,8430, according to the recent UK-failure data is disappointing.
• UK industrial production and manufacturing disappoint in March
The focus is now on the monetary policy decision of the BoE and the quarterly inflation report (QIR) what is the impact on the Euro. Add to this Fed, Talk about, the US unemployment benefits and the PPI.
• EUR/USD analysis: the challenge of the critical support
EUR/USD technical levels
The FXStreet chief analyst Valeria Bednarik says: “The 1,0850 is still the immediate support, because here in the last few weeks, several times a soil was formed. Including the 50% Retracement of the decline after the US election in 1,0820, where the Depth to the 1. Round of the French presidential elections. With a break below will accelerate the Bearish momentum is likely to and the next targets are the 1,0770 and 1,0730. Above 1.0900, the Couple between 1,0930 and 1,0950 will encounter an increased selling interest.”
** FXStreet News Editorial, FXStreet**