EUR/USD today: the euro remains under the pressure - Ester Holdings

EUR/USD today: the euro remains under the pressure

At the start of the day, the EUR/USD pair updated a low at the level of 1.1175, which confirmed the safety of the corrective movement against the previous week. The return of pessimism to the stock markets in Europe put pressure on the American dollar. At the same time, the single currency is limited by technical factors, despite the attempts of correction.

Events for today:

  • 16:00 – S&P/CS Composite-20  housing cost index will be released without seasonal fluctuations (y/y) (Mar) in the USA.
    17:00 –  consumer confidence index CB (May) in the United States will be published.

After a long weekend, the market is expected to resume activity, which will return to the market certainty. Significant uncertainty remains the risks of trade confrontation, a source of excessive volatility.

The EUR/USD pair has been trading in the flat since the start of the day after correction on Monday. The growth of pessimism on the stock markets in Europe contributes to the recovery of the euro, but it is limited to a significant resistance zone of 1.1200-10. The overall dynamics of this pair remains downward, despite the uncertainty. A break of support 1.1180-70 will open the way to the marks: 1.1150 and 1.1130.

Read also: “Features of trade in the Mexican peso”

Hanzenko Anton

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