EUR/USD today: the euro is limited to oversold

The US dollar received support across the market after the US Fed confirmed market expectations regarding the rate hike. The EUR/USD pair was not an exception and accelerated the decline, than completely upturned the uptrend, which in fact fully justified the expectations for the declaine of the pair.

Events for today:

• 15:30 – US statistics will be released: producer price index (PPI) (m/m) (October) and producer price index (PPI) (m/m) (October).
• 20:00 –  number of Baker Hughes oil rigs in the United States.

General optimism about the American dollar remains, but is limited by the oversold of the US dollar.

EUR/USD has found significant support at 1.1330, from which we can expect a low-key correction to resistance levels: 1.1350-60 and 1.1380. In this case, the downward trend in the pair is preserved, but is limited to marks: 1.1330 and 1.1300.

Read also: “Cycles Theory in the FOREX market. Briefly about everything “

Hanzenko Anton

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