EUR/USD today: the euro is prone to decline

The EUR/USD pair accelerated the decline at the start of the week, before the opening of the European trading session. The reason for this was the general strengthening of the US dollar, which was limited in the end. Despite the restraint of the market, this pair has shifted the priority of the downward movement.

The economic calendar at the beginning of the week remains restrained, the general driver and risks are the main driver of trading.

The EUR/USD pair updated the low at the level of 1.1160, which broke through the key support of 1.1180-70. The return of the pair above the level of 1.1180 can be regarded as market uncertainty. Under the existing dynamics, we can expect a decrease in the euro against the US dollar to support levels of 1.1130 and 1.1100. Resistance is located at the levels: 1.1210 and 1.1230.

Read also: “Stock Indices:  Asia-Pacific Region”

Hanzenko Anton

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