[ad_1]
- Spot loses more ground and tests 1.1290, its daily minimum.
- The uptrend in DXY is approaching region 97.40.
- US consumer confidence remains strong in November.
The greenback continues to rise higher Tuesday and strength now EUR / USD back to daily lows in the 1.1290 area.
L / # EUR / USD is interested in the dynamics of the USD
The pair remains under pressure so far this week, falling briefly to new multi-day lows in the region of 1.1290, although it is returning to the 1.1300 district shortly thereafter.
The currency's more favorable tone is pushing the US dollar index to reach new weekly highs close to 97.40 thanks to some improvement in 10-year yields and a new boom in the trade front between China and its US counterparts. United.
In addition, US consumer confidence stood at 135.7 in November, slightly below estimates, although it is still solid.
On this last point, and for Joseph Trevisani, Senior Market Analyst at FXStreet, "The US consumer is the most optimistic in the world. The Conference Board Nov's confidence index dropped from 137.9 in October to 135.7, but it "remains at historically high levels," according to board member Lynn Franco. The increase in purchases on Friday was not a coincidence. Santa Claus will be busy this year. "
EUR / USD levels to watch
For the moment, the pair loses 0.19% at 1.1306 and a break below 1.1291 (minimum on Nov. 27th) would target 1.1214 (2018 minimum on Nov. 12th) On the way to 1.1188 (61.8% Fibo from the 2017 hike) 2018). On the other hand, the next barrier is located at 1.1362 (21 days), supported by 1.1434 (maximum Nov 22), and finally 1.1443 (high Nov 20).
Source link
