EUR/USD today: The pair is in uncertainty
On Wednesday, the pair EUR/USD is traded with a slight decrease due to the optimism about the American and negative dynamics of European stock indices. Constraining factor for the strengthening of the euro is the mixed data on business activity in the euro area, but the euro has received support from the growth of the cross EUR/GBP on the growth of unemployment in the UK.
Events for today:
- 16:15 – the speech of the head of the Bank of England Carney and the hearing of the report of the Bank of England on inflation.
- 16:45 – data on business activity in the US manufacturing sector.
- 17:00 – data on sales in the secondary housing market in the US.
- 21:00 – the publication of the FOMC protocols.
Today is full of news on the USA. In addition to the upcoming statistics, it is worthwhile to focus on the publication of the FOMC protocols, which can cause the growth of volatility of the American.
Under the conditions of the upcoming news and overbought of the American currency, the zone from 1.2300 to 1.2350-60 is a reversal zone, from which the continuation of the downward trend to support levels: 1.2260 and 1.2240-30, and a trend change on resumption of growth of the pair with a further resistance test: 1.2380 and 1.2420-30 are possible.
Fig. EUR/USD. The current price is 1.2330.
Hanzenko Anton