The pair EUR/USD retreated further after the publication of the data of the consumer confidence of the USA and fell to 1.0895. Now operating back above 1.0900, still flying over the rolling average of 20 hours.
The pair peaked at 1.0946 before publication of the GDP data of the u.s. over the first quarter. Then he turned bearish and slipped further after the report of consumer confidence in the U.S. showed an increase from 96.9 to 97 below the 98 expected by the analyst.
The pair is still higher for the day and stood at 1.0905, away from the maximum and 200 pips above the level it had a week ago. The recent drop was driven by a recovery of the u.s. dollar in all areas. The DXY trimmed losses during the american session, after bouncing off of 98.55 to 98.90. The euro remains one of the best results in the forex market on Friday and also during the week. Most of the gains of Friday were produced after the publication of the inflation data from the euro zone.
To the upside, resistance levels in the short term could be placed at 1.0920, 1.0945/50 (maximum weekly) and 1.0985.
In the opposite direction, support might now be at 1.0890 (moving average of 20 hours), 1.0850/55 (a minimum of 26, 27 and 28 of April) and 1.0830.