EUR/USD today: the pair keeps the potential to strengthen
On Wednesday, the pair EUR/USD showed a noticeable decline, which was strengthened by data on the US and the publication of the US Federal Reserve Protocol. As a result, yesterday’s expectations remain in effect after the correction.
Events for today:
- 15:15 – release of the change in the number of employed in the non-agricultural sector of the US by ADP.
- 15:30 – release of data on the US and Canada: the number of initial applications for unemployment benefits in the US and the price index for raw materials (RMPI) in Canada (m/m).
- 16:45 – publication of data on business activity in the US: the composite index of business activity (PMI) in the US by Markit and the index of business activity (PMI) in the US services sector.
The day is full of news and, in the conditions of growing activity on the market, they can be perceived quite vigorously.
Considering developed divergence, which unloaded the overbought of the EUR/USD pair, one should expect further growth of the pair with resistance test 1.2070-80. At the same time, the dynamics of the pair depends on the upcoming news, which can cause mixed volatility. Support levels: 1.2000 and 1.1980, resistance: 1.2070 and 1.2100.
Fig. EUR/USD. The current price is 1.2030.
Hanzenko Anton