EUR/USD today: a pair is near significant support
After yesterday’s speech by the head of the ECB and the publication of data on the United States, the pair EUR/USD consolidated below the psychology of 1.1800, which in turn opened the way to the support level 1.1750-60. Given yesterday’s expectations for this pair, the market is more prone to a decline in the euro. But for further reduction of the EUR/USD pair, it is necessary to overcome the level of 1.1750-60.
Events for today:
- 12:00 – publication of the trade balance of the euro area.
- 15:15 – a speech by a member of the Committee for Monetary Policy of the Bank of England, Haldane.
- 15:30 – publication of an index of manufacturing activity NY Empire State (USA).
- 16:15 – release of the volume of industrial production in the US (m/m).
In the news plan, the day remains very calm, but the upcoming statistics can have a significant effect on the background of correction. Also, the market follows the tax reform in the United States.
At the moment, the pair EUR/USD is clamped in the range 1.1800-1.1750-60, which indicates the uncertainty of the market. The recovery of the American and the pair’s exit will open the way to 1.1730-00, which will also indicate the resumption of the downward trend for this pair. Break through resistance 1.1800 will slow the recovery of the downtrend. The second significant resistance is the mark 1.1820-40.
Fig. EUR/USD. The current price is 1.1780.
Hanzenko Anton