EUR/USD today: the euro remains under the pressure from the American dollar

The EUR/USD remains under pressure from the US dollar after the results of the meeting of the US Federal Reserve. Caught in a significant oversold condition on the general strengthening of the US dollar, oversold is the limiting factor for a further decline in the euro against the dollar, and the risks of a trade war and a tough Brexit put pressure on the euro.

Events for today:

• 14:30 – the speech of the Bank of England Governor Carney will take place.
• 15:30 – initial jobless claims in the United States will be announced.
• 17:00 – the US data will be released: the ISM manufacturing sector index (July) and ISM manufacturing sector business activity index (PMI) (July).

The economic calendar remains saturated with significant statistics, including Bank of England meetings and data on business activity in the United States.

EUR/USD remains under pressure from the American dollar, limited to oversold. A further decline in the pair on the strengthening of the dollar is possible on the positive expectations for the US employment, which will be released on Friday. In the face of declining market optimism, we can expect the formation of a restrained correction for the dollar. Support levels are 1.1020 and 1.1000, resistance: 1.1050 and 1.1080.

Read also: “The cryptocurrency market continues the growth data on Libra”

Hanzenko Anton

---

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. What does British pound wait for with a new prime minister
2. The risks of a trade war are back
3. Expectations from the July Fed meeting

Current Investment ideas:

1. Make Money on Intel Shares Growth!