Last week, the EURUSD continued its correctional movement. On Monday, during the day the pair failed to consolidate below the support level of 1.0880 and returned to the original level of the opening day. On Tuesday, the EURUSD has shown the minimum price since March 2016, it has rebounded from the 1.0850 support and the end of the week was able to fully win back the fall of the previous week. The EURUSD Friday, testing the resistance level 1.0985, down under it.
The news background for the week was fairly quiet. In the eurozone, Germany, the positive statistics were overshadowed by disappointing data on French GDP. But surprisingly pleased with annual data on US GDP - 2.9%, it is not only much higher than the previous value of 1.4%, but higher than the optimistic expectations of 2.5%.Despite this fact, as well as other strong stats United States does not currently have strengthened dollar this week is likely we will see a positive market reaction to the dollar.
The lack of strength in the euro to gain a foothold above $ 1.0985 would lead to a decrease in the pair to 1.0880 and then to 1.0830.
According to the materials of Alpari