EUR/USD today: EUR/USD pair remains under pressure

At the European session on Tuesday and at the start of trading on Wednesday, the EUR/USD pair showed growth, which was caused by a decrease in risk in the market, specifically for the eurozone due to the publication of a plan on reducing the Italian budget deficit.

Events for today:

• 15:15 –  ADP nonfarm employmetn change (September) USA.
• 16:45 – data on business activity in the United States.
• 17:00 – non-manufacturing business activity report of the United States.
• 17:30 –  data on US oil inventories.
• 23:00 – the speech of the Fed Chairman Mr. Powell will take place.

The day today is very full of statistics, but the focus of the market is on the general mood. The growth of pessimism, in turn, will support the US currency. An additional factor in the strengthening of the dollar is also the growth of US  state bonds profitability.

The  EUR/USD pair, after the correction, slowed down the decline significantly, returning above the key support of 1.1550. Fixing below this level will indicate the possibility of resuming a downtrend with a further test of support levels: 1.1500 and 1.1480. Resistance marks are: 1.1570 and 1.1590, the update of which will indicate the preservation of the uptrend.

Read also: “Features of Trade on Bollinger Bands”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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