EUR/USD today: the pair remains under the pressure of fundamental factors
Trades on Thursday ended in a lateral move, which triggered the pair’s exit from the uptrend. The euro accelerated the decline based on the data on Catalonia, thereby giving hints for the formation of a downtrend.
Events for today:
- 15:30 – publication of data on the US: basic durable goods orders in the US (m/m), the basic price index for personal consumption in the US (y/y), the basic price index of personal consumption expenditure in the US (m/m), the volume of orders for durable goods in the US (m/m) and the costs of individuals in the US (m/m).
- 17:00 – data on the sales of new housing in the US.
- 20:00 – a number of drilling rigs in the USA by Baker Hughes.
Given the reduced activity in the market and the resumption of fears of Catalonia, from the pair EUR/USD one can expect a moderate decline to support levels 1.1830-20. Also, this pair remains under the significant influence of fundamental factors, which, against the background of a decrease in liquidity, can cause a sharp movement in the pair. Support levels: 1.1820 and 1.1800, resistance: 1.1870-80 and 1.1900.
Fig. EUR/USD. The current price is 1.1840.
Hanzenko Anton