EUR/USD today: the pair is in uncertainty
Trading on Tuesday on the pair EUR/USD closed with a slight decline, despite the fact that the minimum of four months was updated. As a result, expectations for the pair were partially justified. Significant support was broken, but the downward movement did not develop.
Events for today:
- 17:00 – announcement of data on oil reserves in the United States.
The wide-range fluctuations in the pair were caused by the rumors about the blocking of the tax reform in the United States. Also, the ambiguity of the market affects the dynamics of the American, which casts doubt on the possibility of working out expectations for the American.
At the moment, the pair EUR/USD is trading near the resistance zone 1.1600-20. So, one should expect the resumption of American purchases. But, given yesterday’s movement and the persistence of uncertainty in the market, this pair may move into the consolidation phase. Fixing of pair above 1.1620-30 will indicate the unwillingness of the American to grow. Otherwise, the breakthrough of support 1.1570-50 will signal a further decrease in the EUR/USD pair.
Hanzenko Anton