EUR/USD today: the euro remains under the pressure

The EUR/USD pair on Wednesday remains under the pressure of correction and negative market sentiment. As a result, this pair updated the current week low at the level of 1.1110. An additional driver for the growth of the American dollar was the preservation of uncertainty about Brexit and the preservation of optimism about the US – China trade negotiations.

After an almost three-day decline on the recovery of the American dollar, the EUR/USD pair approached a significant support 1.1110-00, which corresponds to the Fibonacci correction level of 23.6, from a low of October 1. The reversal zone ranged from 1.1100 to 1.1080, where an uptrend is expected to resume, provided optimism returns to the market. The upward trend will remain limited by the levels: 1.1150 and 1.1180.

Read also: “A new front opens in the trade war”

Hanzenko Anton

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