EUR/USD today: the pair remains under the pressure
The EUR/USD pair at the trading on Tuesday continues to move in the downward channel. Earlier on Monday, there was a steady correction against Friday, which also opens the way to a decline in this pair.
Events for today:
- 14:30 – data on construction in the United States will be released: building permits (Feb) and housing starts (Feb).
- 15:00 – S&P/CS Composite-20 housing cost index will be out of seasonally adjusted (y/y) (January) in the USA.
- 16:00 – CB consumer confidence index (March) in the USA will be announced.
- At 22:30 – API weekly crude oil inventories will be published in the United States.
The economic calendar today is very full of data on the United States. But also the market continues to be dominated by general sentiment and expect new UK data.
EUR/USD pair remains to be traded in the flat near the upper boundary of the downward channel (1.1330-40). The limiting factor to the resumption of the decline of the pair is the uncertainty around the American dollar, which can slow down the downward trend and movement in the flat from 1.1340 to 1.1300. Fixing below 1.1300 will indicate a resumption of decline and will open the way to support levels: 1.1260 and 1.1220.
Read also: “Features of trade in the Mexican peso”
Hanzenko Anton
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