EUR/USD today: the euro remains under pressure
At Monday trading, the EUR/USD pair closed the day with a decline, updating a a lows at the level of 1.1360 despite the multidirectional fluctuations. On Tuesday, this pair remains under pressure from the American dollar and possible political risks in Germany, which have been strengthened by weak data on eurozone GDP.
Events for today:
- 15:00 – The S & P/CS housing price index Composite-20 seasonally adjusted (y/y) (Aug) in the USA.
- Also at 15:00 – the consumer price index (CPI) of Germany (m/m) (oct).
- 16:00 – CB consumer confidence index (Oct) in the USA.
- 22:30 – API Weekly crude stocks in the United States.
The ambiguous dynamics of stock indices provides additional support for the US dollar, after attempts to increase optimism. As a result, negative sentiment may return to the market, and with it, investors’ appetite for safe assets.
The EUR/USD pair maintains a downward trend, confirming yesterday’s expectations. At the same time, the goals remain the same, at the support levels: 1.1320-00 and 1.1280. Resistance is located at levels: 1.1380 and 1.1400.
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Hanzenko Anton
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