EUR USD today: the euro is trading against Friday
With the opening of trading on Monday, the EUR/USD pair is trading with a strengthening on the technical movement against Friday and a decrease of the American dollar on the risks associated with US policy. As a result, the American dollar was under the pressure across the market. And this pair has been trading with strengthening from the start of the day, having fully recovered the Friday decline.
Events for today:
- At 17:00 – the US data will be released: nondefense capital goods shipments (excluding aircraft) (m/m) and industrial orders (m/m) (February).
Under the conditions of exacerbation of pressure on the American dollar by Trump and the risks of exacerbation of relations between the US and Mexico, the American dollar remains under the pressure, limited to the highs of the past week.
The EUR/USD pair has been trading with strengthening from the start of the day, limited to resistance 1.1240-60.
A rebound is expected from this zone.
At the same time, political factors act as a driver for the decline of American dollar. Significant support is the mark: 1.1200 and 1.1180. Fixing the euro above 1.1240-60 will cast doubt on the overall downward trend of the pair.
Read also: “Stock Indices: Asia-Pacific Region”
Hanzenko Anton
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