EUR/USD today: the pair is limited to highs

At the opening of the new trading week, the EUR/USD pair moved to a correction. This was due to technical correction and an increase in optimism about the American dollar. It should be noted that the upward trend of the last trading days is preserved. Separately, it is worth highlighting the reduction of tension around political risks in the eurozone.

The economic calendar for today is empty, and low activity at the beginning of the week was aggravated by a day off in the USA and the UK.

The EUR/USD pair is trading lower on movement against Friday, having found significant resistance at 1.1210-20. This resistance corresponds to the upper boundary of the downward channel of recent months. Significant support remains the area of ​​1.1180-70, breaking down which will resume expectations of a decline and a stronger correction. In conditions of low Monday activity, the formation of a flat is not excluded.

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Hanzenko Anton

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