EUR/USD Review, December 9-13, 2019
09 декабря 2019
The currency pair still has no tendency on the Daily chart. EUR/USD has managed to test the resistance at 1,1068 but it has failed to hold above this level.
US Dollar was under the pressure last week due to weak US manufacturing ISM PMI data. Economists expected the indicator to increase, but the index decreased.
US Labor Market data on Friday was strong and provided some support to the US Dollar. EUR/USD has dive below 1,1068 again.
We expect EUR/USD to develop downside move towards the last week’s lows and if it breaks it down, the currency pair is likely to develop its downtrend towards 1,0870.
