EUR/USD today: the pair keeps a downward trend
On Tuesday, the pair EUR/USD closed with a significant decline in the recovery of the US currency and a reduction in risks relative to the US trade war. As a result, this pair formed a reversal from the level of 1.2470, which may indicate a further recovery of the American. But the negative opening of stock exchanges limits the correction of the US dollar.
Events for today:
- At 15:30 – data on the US GDP: the US GDP (q/q), the US GDP deflator (q/q)) and the balance of foreign trade in US goods.
- 17:00 – the index of unfinished sales in the US real estate market (m/m).
- 17:30 – data on oil reserves in the United States.
The day is full of statistics on the US, which will certainly affect the dynamics of the American.
At the moment, the pair EUR/USD maintains a downtrend, limited by the uncertainty of upcoming US data. Significant support, which limits the decline of the pair, is at the level of 1.2370-80. Breakthrough of this mark will open the way to support levels: 1.2350 and 1.2320. Breaking the resistance at 1.2400-20 on weak US statistics will cancel expectations for a fall in the pair.
Fig. EUR/USD. The current price is 1.2400.
Hanzenko Anton