FXStreet — In this week, the EUR/USD more than 200 Pips and a new high for the year selected. Today, investors hold back with purchases. To blame are also likely to have good economic data from the United States .
EUR/USD tumbles after US data
The currency pair remains near the lows, after the Philly Fed Index for the month was stronger than expected. So, the business climate jumped in the Philadelphia Region in may, surprising to 38.8 points, 22.0 in the previous month. Economists had expected a decline to 19.5 points. The number of first-time applications in the framework of the US-unemployment benefits fell compared to the previous week by 4,000 to only 236,000 applications. In statement Four weeks, heavier in average, the number decreased from 243.500 in 240.750.
After the strong price increases of the past few days, today’s day of profit-taking and consolidation. Now, with great excitement, the new Talk from US Treasury Secretary Mnuchin and ECB President Draghi are expected.
The U.S. Dollar Index traded slightly firmer and conquered the brand of 97.60. However, the Greenback continue to play ball, the US is likely to remain policy, and so in the short term, we expect further rate reductions.
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The currency pair is listed last on 1,1109 and to 0.45 percent in the Minus. The chart technical situation is deteriorating, if the Pair falls below, first the supports of 1,1073 (76,4% Fibo), 1,0935 (20-day line) and 1,0826 (the 200-day line). On the top of the High from 18 to define. May
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