EUR/USD today: the euro is near the significant resistance

The US currency weakened across the market at the trades on Thursday. It was caused by a decrease in fears of trade risks and a general rise in optimism. As a result, the EUR/USD pair renewed a maximum of three months and was in a significant overbought.

The main driver for strengthening the EUR/USD pair and lowering the US currency remain the stock indices, which have been growing since the Asian session.

The EUR/USD pair continues to receive support from the growth of optimism in the market, but at the same time it is limited to resistance levels of 1.1780-1.1800. In conditions of overbought further strengthening of this pair will be limited without correction. Therefore, from these levels it is expected, at least, the formation of a flat or a correction to the support levels: 1.1760-50 and 1.1730.

Read also: “Market analysis: undervalued and overvalued shares”

Hanzenko Anton

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

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