Tuesday , August 16 2022

Euro Dollar holds its support zone and restarts its lateral movement


The EUR / USD is suspended on the Forex until the US is published this afternoon.

As a reminder, earlier today, issuing SMEs in the euro zone, with the strong disappointed manufacturing sector, especially in Germany, has pushed the Euro on the Forex, pushing EUR / USD towards the euro aid zone. 1.1325, where the bullish trend line that results from the 2016 bottom goes.

This zone was carried out causing a Euro Dollar rebate, which now returns around the 1.1350 zone, where there is a first resistance that will have to be broken in order to continue the move towards yesterday's highlights towards 1.1370.

Therefore, in the absence of catalysts, we could observe recovery in the combination between 1.1325 and 1.1370 today.

Above 1.1370 we will have robust strengths in 1.1380 / 85 and 1.1400 that will need to be monitored.

Below 1.1325, we would find the 1.1305 then and 1.1270 in the very short term.

Note that ECB records have not brought anything new and have not triggered the Euro response on the Forex. Comment is going to US statistics this afternoon, with durable goods orders, unemployed claims and the Philadelphia Federal index at 2.30pm, followed by PMI indices at 3.45pm, and sales of existing houses for 16 hours.

Currently, the EUR / USD is trading about 1.1350 on the Forex.

EUR / USD Chart H1

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