EUR/USD today: the euro declines under a pressure of correction

On Wednesday at the end of the day, the pair EUR/USD closed with a decline, but updated at a maximum of 95.40, which was caused by ambiguous sentiment on the market, which continue to affect the trades on Thursday.

Events for today:

• 15:30 –  data on the US: core producer price index (PPI) (m / m) (July), the number of initial jobless claims and the producer price index (PPI) (m / m) (July).

With the negative opening of the European stock exchanges, the American currency moved to growth, which was also helped by a decrease in the  of 10-year state bonds yield.

The EUR/USD was also under pressure, but is limited to the support level of 1.1580, the lower limit of the weekly uptrend. In the conditions of preservation of the existing information background, we should expect the euro to return to resistance levels of 1.1600 and 1.1640. Fixing below 1.1580 on the full-scale correction of the American dollar will break the uptrend and will open the way to the support level of 1.1550.

Read also: “The lock: one more time about the ways out”

Hanzenko Anton

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

Topical articles of the trader’s blog:

1. Stock indices: the Japanese market
2. Emerging markets and their prospects: Turkish lira (TRY)
3. Stock indices: the UK market

Current Investment ideas:

1. Preparing to have profits on an optimistic report of Alcoa Inc.!
2. On weak reporting of Boeing shares we can get a strong income!