EUR/USD today: EUR is waiting for correction

At tradings on Friday, the pair EUR/USD managed to close the day with noticeable growth, which was caused by the persistence of low activity, positive statistics on the euro area and the persistence of fears about inflation in the US. As a result, this pair has updated the maximum of the last two months, which indicates a change in the downtrend.

Events for today:

• 17:00 – data on the sales of new housing in the US.

Given the technical analysis, which indicates the relative restraint of the euro in cross-rates and the retention of low trading volumes, one should expect the formation of the movement against Friday, from the resistance level 1.1940-50. Support is located at the levels: 1.1880 and 1.1860.

Also, do not forget about the low activity of the market, which is gradually recovering after a long weekend. There is still some uncertainty in the market caused by risks related to the US currency, which can also have an impact on this pair. In case of the resumption of the negative sentiments, one should expect a test of resistance level: 1.1980 and 1.2000.

Hanzenko Anton