EUR/USD today: the euro remains under the pressure

Despite the ambiguous trading on Wednesday which was associated with political risks in the UK and the soft rhetoric of the ECB, the EUR/USD pair did not accelerate the decline, limiting itself to risks in the US and the oversold of the pair. At the start of the day, similar dynamics persist.

Events for today:

• 15:30 – the US data will be released: building permits (m/m) (December), building permits (December), housing starts (December), housing starts (m/m) ( December),  initial jobless claims, Philadelphia Fed index of manufacturing activity (January) and Philadelphia Fed employment index (January).

The EUR/USD pair maintains restraint, limited to lateral dynamics in the context of a soon correction against the decline. The significant level, limiting the upward movement, are the marks: 1.1430-50, which correspond to the boundaries of the downward channel. Under the conditions of downtrend preservation, a decrease is possible, but after correction and rebound from the resistance zone. Thus, the resumption of euro sales will open the way to support levels: 1.1340 and 1.1300.

Read also: “Black Swan and its prospects in the near future”

Hanzenko Anton

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