EUR / USD today: American dollar under pressure of correction
After yesterday’s sale of the euro on data from the ECB, the American dollar managed to consolidate significantly across the entire spectrum of the market, which was also caused by the aggravation of trade relations between the US and China. As a result, the American dollar was in a significant overbought, and the decline in European stock indices and the growth of pessimism acts as a catalyst for the correction of the US dollar.
Events for today:
- 15:30 – the index of manufacturing activity NY Empire State (USA).
- 20:00 – the number of drilling rigs in the US from Baker Hughes.
- 23:00 – the volume of purchases of long-term securities of TIC USA.
With the continued negative sentiment on the market, the euro could receive a noticeable push for correction, which may intensify amid the weekend. Thus, consolidating the pair EUR / USD above 1.1600-20 will open the way to resistance: 1.1640-60 and 1.1700. Support is located at 1.1550.
EUR / USD Graph. Current price – 1.1590
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Hanzenko Anton