EUR/USD today: the euro remains under the pressure

The EUR/USD pair remains under the pressure after restrained attempts of growth on correction after yesterday’s decline. The reason for the pair’s decline was the growth of optimism around the US-China trade talks, which maintained the upward trend in the US dollar. To a greater extent, it can be traced against European currencies.

Events for today:

• 15:30 –  the US trade balance (September) will be released.
• 16:45 –  Markit composite business activity index (PMI) (October) and the index of business activity (PMI) in the services sector (October) in the USA will be published.
• 17:00 –  ISM non-manufacturing employment index (October), ISM index of business activity in the non-manufacturing sector (PMI)  (October) and JOLTS job openings  (September) USA will be released.
• 23:30 – API weekly crude oil inventories will be released in the United States.

EUR/USD remains under the pressure, breaking through significant support 1.1140-30. In conditions of maintaining downward dynamics, a support test is possible: 1.1090 and 1.1070, which corresponds to the lower boundary of the side channel.

Read also: “How real is the slowdown of the bearish trend for the euro?”

Hanzenko Anton

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