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EUR/USD today: the euro is recovering, limited to risks
After the rapid decline of the EUR/USD pair yesterday on the resumption of the risks of a trade war and positive data for the US, today there is a restrained correction against the decline. Euro support for the recovery is provided by positive inflation data in the Eurozone.
Events for today:
- 15:30 – the US data will be released: building permits (m/m) (June) and housing starts (June).
- 1:00 – the “Beige Book” of the US Federal Reserve will be published.
The main driver of the market in addition to the published data are the risks of resuming the US-Chinese trade war. The US dollar continues to receive support against the backdrop of what.
EUR/USD, after a decline, remains in the correction phase, limited to the level of 1.1220-30. On risk reduction, the possibility of a recovery of the euro against the dollar to resistance levels: 1.1240 and 1.1260 is not excluded The return of the pair to the support levels of 1.1210-00 will indicate the preservation of the potential for decline.
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Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- The trade war. Relations between Japan and South Korea
- The Japanese yen: expectations and prospects.
- US and China return to the negotiation table
Current Investment ideas: