EUR/USD today: the market in uncertainty after the ECB meeting

According to Wednesday’s results, the EUR/USD pair showed multidirectional dynamics with a volatility of about 60 points. The reason for the decline of the euro were the comments of the ECB President M. Draghi about the risks and the possibility of slowing inflation in the eurozone. After the market still managed to return the euro to highs at the sale of the American dollar.

Events for today:

• At 15:30  – the US data will be released: core producer price index (PPI) (m/m) (mar),  initial jobless claims and producer price index (PPI) (m/m) (mar).

EUR/USD pair remains in the flat near the weekly highs despite the exacerbation of risks. In the conditions of preservation of the existing dynamics and risks  one should expect from this pair after correction in the flat continued growth to the resistance levels: 1.1320 and 1.1340. The support is the marks: 1.1250 and 1.1230.

Read also: “Fundamental Analysis: The Report on Employment and its Impact on the Dynamics of the National Currency”

Hanzenko Anton

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