EUR/USD today: the pair is in the correction phase

After yesterday’s growth, the pair EUR/USD accelerated the decline on the correction and weakening of the European currencies, which yesterday received support from fundamental factors. As a result, this pair formed the third top and retains the potential to decrease.

After weak data on inflation in the UK, the American received an incentive to strengthen, which is strengthened by correction and the expectation of the meeting of the US Federal Reserve. Also, upcoming data from the Federal Reserve may also act as a risk factor, which will limit the recovery of the dollar.

Significant support for the pair EUR/USD remains 1.2300 and against the background of the further recovery of European stock exchanges, it can overcome, which will open the way to 1.2260. But the formation of a flat is possible due to the transition of investors to a waiting position.

Fig. EUR/USD. The current price is 1.2310.

Hanzenko Anton