EUR/USD today: the pair remains near significant resistance
On Tuesday, the pair EUR/USD showed mixed volatility. So, after the formation of the minimum at 1.2190, euro buyers became more active and renewed the three-year maximum at 1.2320. In the conditions of the persistence of fears for the euro area to resume the upward trend failed.
Events for today:
- 12:00 – data on inflation in the euro area.
- 13:45 – the speech of a member of the Monetary Policy Committee of the Bank of England, Saunders.
- 16:15 – announcement of the volume of industrial production in the US (m/m).
- 21:00 – release of the “Beige Book” of the US Federal Reserve.
- 23:00 – release of the volume of purchases of long-term securities of TIC USA.
In the context of the forthcoming news on the euro area, one should expect the maintenance of a restrained-positive dynamic, which will be limited to the existing range from 1.2310-30 to 1.2180-60. At the same time, the upward trend in this pair persists. The closing of the day below the level of 1.2160-50, which will indicate a deeper correction, may be the reason for the intensification of the correction.
Fig. EUR/USD. The current price is 1.2230.
Hanzenko Anton