EUR/USD Technical Analysis

The USD exchange rate weakened against the EUR on Friday. The US economic data had a minor impact, so the EUR/USD decreased to the 1.1945 level by the end of the week. A strong support at 1.1900 can lead to the renewed growth. This can be facilitated by the scaling down of the program of conflict stimulation and escalation between the US and North Korea. Today the data on inflation in the Eurozone will be published. In case of positive indicators, the EUR could strengthen in the short term.

After several days of uncertainty, an ascending channel began to form. The price is now moving around the lower border but is aimed at the resistance near 1.1985. The growth along the channel to the previously reached highs is possible in case of breakout of this level.

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