The single currency of the European Union region fluctuated in a narrow upward range during the Asian session to see its rebound to its second low since June 22, 2017, against the US dollar amid a lack of economic data from the Euro-zone economies and developments and economic data expected today. Thursday by the US economy, the world's largest economy.
At 04:38 GMT, the EURUSD rose 0.02% to 1.1155, compared to the opening at 1.1153, after the pair reached a high of 1.1160 and a low of 1.1145.
Investors are eyeing the US economy for a reading of durable goods orders, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which could reflect a 0.7% rise from 0.3% in February. The core reading of the index itself rose 0.2% from 0.1% in February.
This comes in conjunction with the reading of the index of requests for aid, which may show a rise of 7 thousand applications to 199 thousand applications during the last week last Saturday, as may show the reading of the index of continuing requests for a rise by 29 thousand applications to 1,682 thousand applications during the week in the past 13 This month, before we see the US Treasury Department's semi-annual report on international economic and exchange rates.
Technical analysis:
The EUR / USD pair broke the 1.1180 level after closing the daily candlestick below it, which does the bearish scenario over the short term and intraday basis, noting that our next targets are 1.1100 and 1.1040.
Therefore, the bearish trend will be expected during the coming sessions, supported by the negative pressure formed by SMA 50, provided that the price remains stable below 1.1180 and 1.1245.
The trading range for today is expected between 1.1060 and 1.1245 support
The general trend for today is bearish