EUR / USD today: the pair remains oversold
After a wave of optimism about two more Fed rate hikes this year, the US currency is trading near the highs of the month against most competitors. The EUR / USD also wasn’t an exception, which was traced at the beginning of the European session on the general growth of European stock indices.
Events for today:
- 15:30 – data on the price index in the US: the US export price index (m / m), the US import price index (m / m)
- 19:30 – a speech by a member of the Federal Committee for Open Market Operations (FOMC) of Bostica.
- 20:00 – the number of oil rigs in the US from Baker Hughes.
Today is very busy day with data on the United States, which can be taken very seriously at the end of the week.
After the update of the pair EUR / USD minimum at 1.1620-10, one should expect a correction, which is also indicated by the general overbought American dollar and the decline in stock indices. Also, don’t forget about the existing risks around the US trade confrontation and recent weak data on inflation in the United States. Therefore, it is possible to return to the downtrend with the resistance level test: 1.1650, 1.1680-1.1700. Supported by the marks: 1.1620 and 1.1600.
Read also: “Chicago Board Options Exchange (abbreviated CBOE)”
Hanzenko Anton
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