Yesterday, EUR / USD continued to trade under pressure, and today the pair has updated its annual minimum at $ 1.1760.
Unconvincing statistics from Europe and good figures on retail sales in the US predetermined yesterday the weakening of the European currency.
On Tuesday in the second half of the trading session, EUR / USD strengthened the decline amid the massive growth of the US currency, and the growth is quite curious.
As we expected for EUR / USD last week ended interestingly.
On Friday, the market did not receive important statistical information and the markets traded under influences of previous drivers and sessions.
Yesterday, the market ignored weak data on European inflation and strong report of the American regulator (Beige Book), despite the seemingly so negative background for the European currency, the pair EUR / USD continued to slightly gain. Yesterday's trading session the pair closed at 1.2374, the highs of the day are located in the zone of almost 1.24.
Yesterday, the data from Germany and the euro area turned out to be negative, data on sentiment in the business environment from ZEW Institute.
Yesterday, during EUR/USD growth, there were attempts to break through resistance 1.2377, but as technical analysis predicted in advance, the chances of success were low, the attacks of the bulls were repulsed and the upward momentum was exhausted.
On the fundamental news front, yesterday the support of the European currency was triggered by the words of the official representative of ECB Novotny.
The weakness of USD dollar reinforce the upward movement of EUR / USD pair.