EUR/USD today: the euro remains under the pressure on rising risks

After the  EUR/USD pair updated a low at the level of 1.1160 as a result of Tuesday’s trading, the pair formed a downward trend, which is facilitated by the growth of trading risks and the overall strengthening of the American dollar.

Events for today:

• 09:45 – publish French GDP (y / y).
• 10:00 – Bundesbank President Weidmann will speak.
• 10:55 – there will be a change in the number of unemployed in Germany (May) and the unemployment rate in Germany (May).

The day today is full of data on the eurozone. The main drivers of the market remain the risks of trade confrontation, which has intensified after a relative lull.

The EUR/USD pair continues to maintain its downward potential in reinforcing fears over the US-China trade war, while limiting to oversold and trading channel. Under oversold conditions, the possibility of correction to resistance levels is not excluded: 1.1180 and 1.1190. Levels of significant support are located at the levels: 1.1140 and 1.1120, the test of which is likely while maintaining current moods.

Read also: “Market analysis: undervalued and overvalued shares”

Hanzenko Anton

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