The pair EUR/USD goes up on the Forex and trying to break above 1.1750 following the publications US.
In fact, after the good CPI core in the euro zone this morning, the Chicago PMI came in lower at 58.9 vs. 60.0 expected and 65.7 previously.
This significant decline has pushed EUR/USD towards the resistance 1.1750, but the publication that has followed has somewhat slowed down the movement.
Indeed, the promises of housing sales have rebounded by 1.5% against 0.7% expected and -0.7% previously.
It’s not even falling back to the pair, but it is clearly difficult to confirm above 1.1750.
If the pressures continue we could find the 1.1760 intraday, before the recent summit at 1.1775.
Above, we could then have targets at 1.1800, 1.1820 and 1.1850.
Has the downside, a break under the 1.1720 would weaken the pair, with risks of a decline towards 1.1700, the MM100 in H1 to 1.1696, and 1.1680.
Below, we will then 1.1650, the MM200 to 1.1651, and support pre-FOMC at 1.1620.
A break below 1.1620 could then encourage a movement of decline more significant.
The hesitation still remains in place intraday, but having held the support of 1.1720, we are testing now the resistance of the 1.1750, which the break could encourage a return of the upward pressure in the very short term.
The pair EUR/USD is currently trading at 1.1750 on the Forex.
Chart EUR/USD H1
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This chart has been realized with the trading platform TradingStation 2 provided by FXCM France.