EUR/USD today: the euro has updated a multi-year low

The EUR/USD pair on Monday accelerated the decline to maintain the positive dynamics of the US dollar. The reason for the decline in this pair remains trading risks and fears of a slowdown in the eurozone economy after a tough Brexit. As a result, from the start of the day, the euro has updated a low against the American dollar at 1.0960.

The economic calendar at the start of the week remains empty. Published data on business activity in Europe increased the pressure on the single currency.

The EUR/USD pair remains under the pressure, maintaining the downward trend of Friday, significantly limiting the oversold level and support levels: 1.0950-30. With a decrease in activity at the end of the day, thanks to a day off in the USA and Canada, we can expect a correction to the resistance levels: 1.1000 and 1.1030.

Read also: “A new round of trade war:
duties, restrictions, prospects”

Anton Hanzenko

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

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