EUR/USD today: the euro retains the pressure, limited to overbought

On Tuesday, the EUR/USD pair continued to strengthen, updating yesterday’s high. At the same time, the growth of the euro is due to a decline in the US currency. The euro was supported by reserved positive data on economic sentiment in the eurozone.

Events for today:

• 16:00 –  volume of industrial orders (m/m) (January) in the United States will be announced.
• 22:30 – API weekly crude oil inventories will be released in the United States.

Market dynamics remain restrained due to oversold US dollars and the lack of significant drivers.

The EUR/USD pair continues to trade with a moderate strengthening, limited to attempts of correction. A significant resistance are marks: 1.1380 and 1.1400. Support is located at the levels: 1.1340 and 1.1320, which will limit the corrective decline.

Read also: “The oil market. The view from the past to the future”

Hanzenko Anton

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

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