EUR/USD today: the euro is returning to a restrained downward dynamics - Ester Holdings

EUR/USD today: the euro is returning to a restrained downward dynamics

The lateral dynamics of the EUR/USD pair at the start of the week, caused by general uncertainty in the market, pointed to the persistence of downward sentiment on the euro, despite attempts of correction and weakness of the American dollar. So, since the beginning of Tuesday, this pair has updated a weekly low at the level of 1.1280-75, indicating the preservation of two-week dynamics.

The economic calendar in the second half will be almost empty so the general mood will be the driver of trading.

The EUR/USD pair, after updating the low at 1.1280, was in significant oversold. It may cause a correction in conditions of ambiguous sentiment about the American dollar and the negative dynamics of stock indices. In this case, it is worth noting the downward dynamics of the pair, we should expect a rebound from the resistance levels: 1.1300 and 1.1330. Support is located at levels: 1.1250 and 1.1230.


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Hanzenko Anton

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