EUR/USD today: the euro has found a support

The  EUR/USD pair closed trading on Tuesday by updating the weekly low at 1.1340. The main decline of this pair fell on the American session, because of the general growth of the US currency. The weakness of the euro is due to risks around risk retention in Italy and political risks in Germany.

Events for today:

• 14:15 – ADP nonfarm employment change (October) in the United States.
• 14:30 – Labor Cost Index (q/q) (Q3) in the USA.
• 15:45 – PMI  in Chicago (October) USA.
• 16:30 – data on the US oil inventories.

The news background is very saturated, that will ensure the growth of volatility in the market. The growth of stock indices contributes to the strengthening of risky assets.

The EUR/USD pair maintains a downward trend, confirming expectations of a decline. The main support is located at 1.1330-40, breaking through which will open the way to support levels: 1.1300 and 1.1280. Resistance marks are: 1.1350 and 1.1370.

Read also: “The EU and the UK are making compromises on Brexit”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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