EUR/USD today: euro is near significant support

On Thursday, trading on the pair EUR/USD closed lower, thereby casting doubt on the safety of the uptrend and indicating the formation of a correction against the two-week growth. The reason for the overall  US dollar growth was the worsening of the tension around the US and China trade confrontation , which is the main driver of the dollar’s growth on the flight of investors from risks.

Events for today:

• 16:45 – index of business activity (PMI) in Chicago (Aug) USA.
• 20:00 – number of oil rigs from Baker Hughes in the USA.

After the publication of eurozone data, the stock market indices remain the driver of the market, or rather negative sentiments, which contribute to flight from risks.

The EUR/USD pair formed a moderately downward trend over the past few days, confirming the formation of the correction. The main support is located at the levels: 1.1650 and 1.1630, the breakout of which will indicate a reversal of the uptrend. Against the backdrop of rising risks, the euro should not be expected to strengthen. Resistance is located at the levels: 1.1700 and 1.1730.

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Hanzenko Anton

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

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