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- The pair keeps the auction tone unchanged above the figure 1.1400.
- The greenback remains marginalized in the 95.80 zone.
- US ADP report expected for next FOMC meeting
EUR / USD remains well positioned this week and is currently looking to consolidate its gains following the recent breakout of the key barrier at 1,1,400 digits.
The EUR / USD is based on US data, trade
Spot is sailing in the two-week high zone above the 1,1,400 threshold so far this week in a generalized greenback performance of the greenback, confined to the region of 95.80 for the moment under the tracking of the US Dollar Index (DXY).
Earlier in the session, the latest measure of consumer confidence from the European Commission in the bloc was -7.9 for the current month, slightly lower than in December (8.3). In addition, the German consumption climate measured by GfK has improved to 10.8 for the month of February.
In the future, the FOMC should leave rates unchanged later today, even though the markets will draw attention to Powell's press conference and his view on the Fed's rate trajectory for this year. .
What to look around EUR / USD
Following the recent ECB event and Draghi's comments, the central bank is expected to strengthen its data-dependency position in the coming months in light of the ongoing slowdown in the region. In addition, trade negotiations between the United States and China will also be on the radar of investors this week before the meeting between US and Chinese officials who will start today and end tomorrow. On a more political level, the next legislative elections of the EU (May) should attract more and more attention in the coming weeks, while keeping a close watch on the social scenario in France and the Italian political turmoil.
EUR / USD levels to watch
For the moment, the pair gains 0.04% at 1.1435 and is facing an initial resistance at 1.1450 (higher on January 29th), supported by 1.1515 (50% Fibo of the September decline). November) and finally 1,1569 (higher in 2019). In contrast, an exceedance of 1.1413 (21-day SMA) would target 1.1385 (10-day SMA) en route to 1.1326 (200-week SMA).
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