EUR/USD today: the euro remains under pressure
After yesterday’s low-key comments from the head of the ECB, the euro remains under American dollar pressure. EUR/USD pair managed to overcome 1.1640 support at the beginning of the day, which opened the way to 1.1600, which will be limited to overselling.
Events for today:
- 15:30 – data on US GDP: GDP (q / q) (2 Q) And GDP deflator (q / q) (2 Q.).
- 20:00 – the number of oil rigs from Baker Hughes in the USA.
The main event of the day is the expectation of preliminary data on US GDP. And the market actively includes optimistic expectations.
The pair EUR/USD, despite oversold and bullish divergence, remains under pressure, but, without fundamental grounds, the 1.1600 support test is unlikely. Weak statistics on the US can cause a rapid correction of the pair. Support levels: 1.1600 and 1.1580-60, resistance: 1.1650-80 and 1.1720.
Read also: “Positive locking order as an alternative to the stop”
Hanzenko Anton
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