The US dollar remains under pressure

The US dollar is trading under pressure against most of the major market currencies. Pressure on the US currency is provided by uncertainty about the timing of the tax reform, which is the largest project of the Trump’s administration. See Market is in anticipation of the amendments to the tax reform.

Technical Analysis: Due to the absence of a significant news background and the weak position of the US dollar, the pair EUR/USD rose during the European session, returning the lost positions since the start of trading on Monday. In the short term, the pair keeps a flat movement against the backdrop of a multidirectional monetary policy of the ECB and the Fed.

• One should consider the main resistance levels at the marks 1,1690; 1.1730.
• Support levels are considered at 1,1624; 1,1600. From these levels it is worth considering both sales and purchase of the instrument.

Fig. Graph EUR/USD current price – 1.1662.

Alexander Sivtsov