EUR/USD: Test of the key resistance of 1,1235 in the view

FXStreet — Currently is the EUR/USD daily gain of 0.14 % at 1,1180, after the days high at 1,1206 and the Low at 1,1109 were formed.

The EUR/USD was able to make the downward movement, with the yesterday’s ECB President Draghi’s comments completely undone, as it came to a Test of the 1,1180 resistance. The ECB President Draghi emphasised yesterday that the slimming down of the risks for the Euro zone economy, but the loose money policy is still necessary.

Add to that the speculation in the German press that Greece will not pay its next debt repayment, and in Italy it can come to early elections,» as the Scotiabank analysts explain.

The Euro was able to recover, although the CPI of Germany, a weak inflation print reflected.

The US core PCE Index is not corresponded to 1.5% of the forecast, to 1.6%, which was sufficient to slow down the commandments. The Fed Governor Lael Brainard said that US interest rates will increase soon, however, the Euro bids held.

The focus is on the ECB meeting next week and the US NFP is on Friday.

EUR/USD technical levels

Commerzbank analysts explain: «rallies are pushed to the 1,1235, 1,1268 and 1.1300 resistance. Uarüber is the middle of 2016 High in the area of 1,1400. We assume, however, that the Couple will have a long-term fight. In 1,1343 we have yet to see the 78,6% Retracement.»

** FXStreet News Editorial, FXStreet**

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