EUR/USD today: the euro strengthens on the correction

Trades on Monday are aimed at correction after the decline of Friday. As a result, the EUR/USD pair is trading with the strengthening. On Friday, the general growth of the American dollar was due to information that the US is going to introduce new duties on goods from China. Additional support for the dollar was provided by the technical correction of the positions before the weekend.

Events for today:

• 15:30 –  index of manufacturing activity NY Empire State (Sep) in the US.

Activity in the market at the start of the week remains low, despite the publication of data on consumer prices in the euro area.

The pair EUR/USD, despite the upward trend, is limited in strengthening, which in the end may become the reason for the trend reversal for this pair. Resistance is located at the levels: 1.1650 and 1.1670, the retreat from which will indicate a resumption of decline and a slowdown in weekly growth. The main support is located at the level of 1.1620-00.

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Hanzenko Anton

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