- Euro starts testing levels below 1.1800 against the dollar.
- US data comes out better than expected.
- Wall Street futures accelerate decline in the last hour.
The EUR / USD fell to 1.1790, reaching the lowest intraday level since November 12. It then bounced back above 1.1800 but remained under heavy downward pressure.
The dollar was gaining momentum as stock futures fell on Wall Street. The main indicators, after remaining in positive territory for hours, now point to an opening with decreases around 0.40%.
The US data released was better than expected, showing that the economy grew to 4.3% in the fourth quarter (revised from 4.1%) and that unemployment benefits, both initial and continuing, fell more than expected, lows in one year. The data did not have a great impact on the market.
From a technical point of view, the downward pressure on the EUR / USD remains. It is testing the 1.1800 support, having had the first daily close below the 200-day moving average since May on Wednesday. The next strong support looms at 1.1750 / 55. A return above 1.1850 would ease the bearish tone.
Technical levels
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