Last week, major currencies strengthened against the dollar. The single currency has grown the most (0.96%). The Australian dollar added less than others (0.17%).
On Friday, EUR / USD rose to 1.2076 after the release of strong data from manufacturing and services PMIs in the Eurozone. European Forex crosses also traded in the green zone and supported buyers of the main currency risk.
On Monday, since the opening of trading, the growth of the major currencies in the dollar continues. EUR / USD strengthened to 1.2117. At the moment, the pair is quoted at 1.2091. The fall of the asset began after the decline in the EUR / GBP cross.
The resistance for EUR / USD is the 112th degree 1.2131 (1). The supports are located at the 45th degree 1.2062 (2) and the trend line (3).
On Friday, the entire trading session, the pair was strengthening, in connection with which we expect a correctional decline in today’s trading. Ideally, we would like the EUR / USD to go down to the 45th degree at 1.2062 in two days and from here continue to rise to 1.2131 (1).
This week there will be a Fed meeting on interest rates, a press conference by Jerome Powell, US and Eurozone Q1 GDP reports, and the PRC Manufacturing and Services PMI.
Forex European crosses show multidirectional dynamics. EUR / GBP is falling, which puts pressure on EUR / USD.