EUR/USD today: the euro remains under the pressure

The EUR/USD pair remains in significant oversold, forming a downward trend after a long flat after it accelerated the decline on the positive US data and the weakening risks of the trade war.

Events for today:

• 15:30 – data on construction in the USA will be released: building permits (m/m) (July) and housing starts (July)

EUR/USD remains under the pressure amid growing optimism in the market. In addition to strengthening the American dollar against the euro, it receives support from the decline in safe haven assets. After the growth of optimism, the EUR/USD pair found support at the level of 1.1080, from which a moderate upward correction can be expected. The second significant support is the level of 1.1060-50. Resistance is located at 1.1100 and 1.1120.

Read also: “How long will the rising rally of the American continue
based on the growth of profitability of the US bonds”

Hanzenko Anton

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

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