EUR/USD today: uncertainty persists
On Wednesday, trading on the EUR/USD pair remained restrained, limiting itself to the established trading range. The movement in the euro against the dollar felt a significant resistance of 1.1050-70, which in the future can be regarded as a significant level for the formation of a downward reversal.
- Events for today:
- 15:30 – core producer price index (PPI) (m/m) (Aug) and the producer price index (PPI) (m/m) (Aug) in the USA will be published.
The EUR/USD from the start of the day has been trading in different directions, maintaining lateral dynamics. Market restraint and anticipation of the ECB meeting, which is expected to reduce deposit rates, put an additional pressure on the euro, which may contribute to the development of a downward trend. Also, the expectation of the ECB meeting results is also a limiting factor for this pair. Significant resistance: 1.1050 and 1.1070, support: 1.1020 and 1.1000.
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Hanzenko Anton
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