EUR/USD today
On Tuesday, the US currency strengthened across the entire spectrum of the market, which was caused by optimistic comments on the US economy by the US Federal Reserve Chairman Powell. As a result, the pair EUR/USD emerged from the side trend down and broke through the work line at 1.2250.
Events for today:
- 15:30 – preliminary data on the US GDP.
- 16:45 – the index of business activity (PMI) in Chicago (USA).
- 17:00 – the index of unfinished sales in the US real estate market (m/m).
- 17:30 – oil reserves in the US.
The day is full of data on the United States, but the market’s attention remains chained to the dynamics of the American, which is full of optimism. At the same time, under the conditions of strengthening of the US dollar, stock markets occured under pressure, which increased the demand for safe haven assets. But the stock markets remain in the correction phase, which can limit the growth of the American.
After breaking through the significant support at 1.2250, the pair EUR/USD broke the uptrend, indicating a possibility of decline, but the reduction of this pair is limited by the absence of significant drivers and oversold. As a result, correction is possible. Support level: 1.2200 and 1.2160, resistance: 1.2240-60 and 1.2290.
Fig. EUR/USD. The current price is 1.2220.
Hanzenko Anton