EUR/USD today: the dollar continues its decline

Wednesday trading opened with the continuation of the US dollar sale across the market after a small correction. The pressure on the dollar comes from the Fed, which is waiting, and from the growth of optimism in Europe. As a result, the EUR/USD pair accelerated two-week growth.

Events for today:

• 15:30 – goods trade balance (December), the United States.
• 17:00 – the US data will be released: non-defense capital goods shipments (excluding aircraft) (m/m), factory orders (m/m) (December), the speech of the Fed Chairman Mr. Powell and pending home sales (m / m) (Jan).
• 17:30 – will announce data on the US oil inventories.

The day today is very full of data on the United States, which can contribute to the correctional recovery of the American dollar.

Despite maintaining optimism on the EUR/USD pair, its further growth is limited by the resistance of 1.1400-20, which is expected to  rebound. An upcoming data on the United States can strengthen the dynamics of the American dollar, but they will carry a pulse character. Significant resistance levels are: 1.1420 and 1.1440, support: 1.1380 and 1.1360.

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Hanzenko Anton

 

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