FXStreet — The common currency is currently simply no ground against the Greenback. Recently fell, the Euro exchange rate , therefore, a new Multi-day Low of 1,0839.
EUR/USD focus on 1,0820
The currency pair could not get the positive Start to the trading day for a very long time upright and oriented himself again to the South due to the up again in receiving recovery of the Greenbacks. So did the US Dollar Index, which is the most important reserve currencies against the US Dollar compares to 99,80 and, thus, on a 3-week High.
For a boost of positive economy ensured that data from the United States. So the initial claims under the unemployment insurance declined compared to the previous week to 2,000 to only 236,000 applications. In the meaningful Four-week average, the number rose from 243.000 to 243.500. The producer prices were increased in April, twice as fast as expected. They increased by 0.5 percent compared to March. Economists had only expected an increase of 0.2 percent. The core component rose by 0.4 percent. Thus, the pressure to Intervene in the Central Bank grows.
The currency pair is since Monday, after a new year was formed over the round mark of 1,1000, in retreat. To blame the resurgence of the strength of the US currency.
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The Couple listed recently on 1,0856 and to 0.10 percent in the Minus. The Low of the 10. May offers first support. Other lines are in 1,0827 (the 200-day line) and 1,0819 (Deep 24. To find April). The chart technical situation brightens when the Couple first of all, the levels in 1,0900 (to the power of 10. May), 1,0916 (Fibo 23.6%) and 1,0935 (High 09. May) back to Robert.
** FXStreet News Editorial, FXStreet**