EUR/USD today: the euro remains under the pressure of correction

EUR/USD opened the new week with a restrained decline on the move against Friday and attempts of the American dollar to recover. The growth of optimism on stock exchanges also contributes to a moderate decline in this pair.

In the absence of significant data, the market sentiment  remains the driver for trading, which largely depends on the data of the US – China trade talks.

The EUR/USD pair moved to a downward correction, limited by the support level of 1.1140-20, but also remains limited to a two-week side channel, the upper border of which is located at 1.1170-80. Movements in this range should be expected until significant data on trade negotiations between the US and China.

Read also: “Cloudy prospects for the oil market”

Hanzenko Anton

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