EUR/USD today: the euro accelerated growth on the weakness of the American
The very low-key dynamics of the EUR/USD pair was noticeably accelerated by the middle of the day on the weakening of the US currency, which was caused by a sharp increase in the yield of the US state bonds and the return of optimism to the stock market. Thus, investors preferred to take short positions on the US dollar.
Events for today:
- 17:00 – the volume of industrial orders in the US (m/m).
- 20:15 – a speech by a member of the Committee for Monetary Policy of the Bank of England Haldane.
- 23:30 – weekly stocks of crude oil in the US according to the American Petroleum Institute (API).
The total sale of the American caused a two-week maximum update at 1.2400. This level corresponds to a significant resistance, from which it is possible to repel, but, in the condition of the pair’s return to the uptrend and fixing the pair above 1.2400, one should expect further growth to the resistance levels: 1.2430 and 1.2460-50. Support levels are: 1.2330 and 1.2300.
Fig. EUR/USD. The current price is 1.2400.
Hanzenko Anton