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

Demand for the US dollar increased significantly on the market after reports that the United States and China are returning to the negotiating table, and the United States postponed the introduction of new duties on Chinese goods, it was reinforced by general optimism.

Events for today:

• 16:45  – PMI in the United States will be released.
• 17:00 – ISM Manufacturing Employment Index (June) and ISM manufacturing business index (PMI) (June) USA will be published.

The possibility of reducing the tension in the US – China trade war remains the main driver of the market.

The EUR/USD pair has weakened significantly from the start of the day, having updated a low at the level of 1.1320. This caused a significant oversold of the euro against the dollar. In the conditions of consolidation of this pair below the level of 1.1340-50, the possibility of further reduction to support levels of 1.1300 and 1.1280 remains.

Read also: “Cryptocurrency market. What is happening now and what to expect “

Hanzenko Anton

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