EUR/USD today: a pair is under pressure of correction
After the weekly maximum was updated on the sale of the American currency, the pair EUR/USD was under pressure of correction, which was caused by the growth of optimism on the positive start of the European stock indices. Despite this, the dynamics of the US currency remains limited due to upcoming data on inflation in the US.
Events for today:
- 15:30 – announcement of the data on inflation in the US.
- 17:00 – the volume of inventories in the US (m/m).
The main event of the day will be the publication of the report on inflation in the US, which, despite restrained forecasts, could have a significant impact on the US currency.
In the conditions of overbought of the pair EUR/USD, the recovery of the American is justified, while the zone 1.2330-00 continues to act as a shopping zone on maintaining the uptrend. The pair’s exit from the established range may be caused by the upcoming data on the US. Support levels: 1.2300, 1.2270-50 and 1.2200, resistance: 1.2390-1.2400, 1.2430 and 1.2480.
Fig. EUR/USD. The current price is 1.2350.
Hanzenko Anton