EUR/USD today: the euro has slowed the growth
After a moderate growth at the start of the week, the EUR/USD pair was under the pressure. The reason for this was the restoration of the American dollar around trade risks and the preservation of risks about to Brexit without a deal. As a result, the euro against the dollar slowed down the channel and moved to a correction.
Events for today:
- 15:30 – the US data will be released: export price index (m/m) (May), import price index (m/m) (May) and initial jobless claims.
The main market driver remains trade and political risks in Europe.
The EUR/USD pair continues to trade near significant support 1.1290-1.1300 after the decline, in fact, retaining restraint on market uncertainty, which is strengthened by risks. Growth potential remains significant, but will be limited to resistance levels: 1.1330 and 1.1350. In the conditions of further exacerbation of risks around Brexit without a deal, it is possible to continue reducing to support levels: 1.1270 and 1.1250.
Read also: “Fundamental analysis:
Inflation and the impact of its indicators on world currencies “
Hanzenko Anton
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