The currency pair declined last week due to the USD growth. The main reason for this USD uptrend was the fastest and more stable US economics growth as compared to the others.
US GDP growth reached 2,0%. It is lower than previous 2,1% reading, but equal to the economists’ projections. Personal spending reached 0,6% growth, which was better than expected.
Eurozone’s inflation is still in stagnation. It fails to surpass 1%. German inflation was in negative area and influenced EUR/USD as well.
USD continues its growth despite the wishes of the US President to make dollar cheaper. All eyes on the FOMC meeting currently.
As for the Technical analysis, EUR/USD reached the next support area at 1,0956. We advise to wait for signals here. Euro is under the pressure currently, but we recommend opening short positions when the level is broken down with confirmation. In case of reverse signals, we recommend opening long positions aiming at 1,1068.
