EUR/USD today: the euro is corrected by the weakness of the American
The European session on Tuesday opened with a noticeable weakening of the American against the euro and other world currencies, but the main drop of the American fell to the pair EUR/USD. The market continues to win back the decline in political risks in Italy, and the US dollar remains under pressure of correction.
Events for today:
- 13:00 – the index of industrial orders (CBI) in the UK.
- 23:30 – a weekly supply of crude oil in the US according to the American Petroleum Institute (API).
The pair EUR/USD managed to form a corrective uptrend, which is limited by resistance levels: 1.1800 and 1.1840. At the moment, there are no clear sentiments regarding this pair and the US dollar, so the dynamics of EUR/USD will probably be limited to the monthly downtrend. Because of what, on Wednesday one should expect a repulsion from 1.1830-50. While the pair will be traded in an uptrend with support levels: 1.1770 and 1.1750.
Fig. EUR/USD. The current price is 1.1810.
Also, read: “Euro (EUR) – Features of Cross-Rate Trading”.
Hanzenko Anton