EUR/USD today: the euro moved to correction

Trades in the EUR/USD pair closed with a significant decrease at the trading on Wednesday, which was caused by the publication of positive data on the USA and the rapid growth of US state bonds yield. The strengthening of the US dollar was promoted by the growth of optimism about the upcoming employment report in the United States, which intensified against the background of a tightening of US monetary policy.

Events for today:

• 15:30 –  initial jobless claims in the United States.
• 17:00 –  statistics on the United States:  nondefense capital goods shipments (excluding aircraft) (m / m) and factory orders (m / m) (August).

Due to the renewal of the two-month high by the dollar, the EUR/USD pair was significantly oversold. Level 1.1450 made a significant support, from which the correction was formed. Corrective movement on this pair will be limited to resistance levels: 1.1500 and 1.1530-50. Further movement of the pair and the US dollar will be limited by the general uptrend of the dollar and the expectation of  employment data in the US, which will be released on Friday.

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Hanzenko Anton

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

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