EUR/USD today: the pair resumes a decline

The EUR/USD pair remains under pressure from the American dollar after Friday trades that closed lower. General optimism continues to support the US dollar. The euro remains an outsider trading on the restraint of the market.

The economic calendar is empty at the start of the week, but this week will be intense. In addition to significant statistics, the market also expects new details about the US-China trade negotiations, which will set the mood in the market.

After the rebound of EUR/USD from psychology 1.1400, this pair returned to decline on the resumption of the annual downtrend. At the same time, the further decline of the euro against the American dollar is limited by its oversold. Therefore, a correction is possible from 1.1330-20. After that, the resumption of decline with the test of support levels is expected: 1.1290 and 1.1260. Fixing above resistance 1.1360 and 1.1380 will cancel expectations of decline.

Read also: “Market activity depending on the days of the week”

Hanzenko Anton

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