EUR/USD today: the pair remains under pressure

After yesterday’s press conference of the ECB President, the EUR/USD pair remains under pressure. An additional factor in the decline of this pair is the growth of pessimism in the market. At the same time, political risks around the Italian budget remain the main aspect of the euro decline.

Events for today:

• 15:30 –  preliminary data on the US GDP.
• 17:00 – the speech of the ECB President Draghi will take place

The main event of the day will be the publication of preliminary data on the US GDP, on the expectation of which a correction in the US dollar is possible. The driver for strengthening the dollar are the risks associated with Italy and a decrease in stock indices.

EUR/USD retains the downward trend in flight from risk, but is also limited by oversold. Therefore, before the release of data on the US GDP, we should expect the pair to move in the range from 1.1340-30 to 1.1380-90. In this case, a correction at the close of the week. Significant support is located at levels: 1.1300 and 1.1280, resistance 1.1400. 1.1430.

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Hanzenko Anton

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