EUR / USD today: the pair remains under pressure

After attempts of American dollar to grow on Tuesday, the pair EUR / USD closed the day a little below the opening. On Wednesday, optimism about the American dollar resumed on the negative opening of stock indexes in Europe, which was caused by the resumption of risks around the trade confrontation between the US and China.

Events for today:

• 15:30 –  data on the US: the core producer price index (PPI) in the USA (m / m) and the producer price index (PPI) in the USA (m / m).
• 17:30 –  data on oil inventories in the United States.
• 18:30 – will be the speech of the head of the Bank of England Karni.

In the face of increasing risks and the collapse of stock indices, the American dollar will continue to receive support against major competitors.

Technically, the pair EUR / USD can maintain the upward trend, if it remains above the level of 1.1700, from which it is possible to repel and resume the upward dynamics. On the other hand, the consolidation below 1.1700 will open the way to support levels: 1.1670 and 1.1640. Resistances are the levels of 1.1750-70 and 1.1800.

Read also: “What is the Monetary Policy and the Tools for its Regulation”

Hanzenko Anton

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