EUR/USD today: euro is in anticipation of inflation data in the euro area
On Tuesday, the pair EUR/USD closed with a decline on an increase in the yield of 10-year US state bonds. As a result, this pair returned to the low of last week (1.1820), thereby confirming the possibility of resuming the general downtrend, which is seen from the middle of April.
Events for today:
- 12:00 – data on inflation in the euro area.
- 15:00 – the speech of the head of the ECB Draghi.
- 15:30 – data on construction in the US.
- 16:15 – data on industrial production in the US.
- 17:30 – oil reserves in the US.
The day is full with data on the eurozone and the US, which can cause volatility on the news. Particular attention should be paid to the data on inflation in the euro area and the speech of the head of the ECB.
In conditions of the resumption of the downtrend and the strengthening of the American, one should expect the breakout of support: 1.1800-20 and the support level test: 1.1760-50 and 1.1720-00. But, looking around for the upcoming fundamental news, there are also possible differently directed fluctuations in the news output. Resistance levels: 1.1890 and 1.1930.
Fig. EUR/USD. Current price – 1.1830
Hanzenko Anton