EUR/USD today: the pair remains in the correction phase
During the trades on Wednesday, the pair EUR/USD fell noticeably, which was caused by a general decline in the single currency due to the comments by ECB representatives who spoke in favor of maintaining a soft monetary policy in the euro area. As a result, the pair updated the minimum at 1.2160 and accelerated the correction movement.
Events for today:
- 15:30 – a news block on the US: the number of issued construction permits in the US, the amount of construction of new homes in the US, the number of initial applications for unemployment benefits in the US and the employment index of the Federal Reserve Bank of Philadelphia (USA).
- 18:00 – publication of data on oil reserves in the US.
The day is now saturated with statistics on the US, which, given the recovery of the US currency, could have a significant impact on the market.
The EUR/USD pair broke off from the level of 1.2310-00, which corresponds to the upper border of the rising channel, thereby confirming the formation of a corrective movement on this pair, which is limited by a two-day downtrend. So, one should expect a decline from the resistance levels: 1.2260-70 and 1.2300. Support, which limits the decline, is located at the levels: 1.2130 and 1.2080.
Fig. EUR/USD. The current price is 1.2210.
Hanzenko Anton