EUR/USD today: the pair is near significant resistance

At trading on Wednesday, the American weakened across the entire spectrum of the market. This was caused by weak US statistics and the publication of the FOMC protocol, which raised concerns about a relatively weak inflation in the States. A long weekend in the US, which forced investors to withdraw from the US currency increased pressure on the US currency.

Events for today:

• 14:30 – publication of the minutes of the ECB meeting on monetary policy.
• 18:30 – the speech of the chairman of the National Bank of Switzerland, Jordan.

At the beginning of the day, there were data on business activity in the euro area, which increased optimism about this pair. Considering that today in the US is a day off – the celebration of Thanksgiving Day, by the end of the European session one should expect a decrease in activity in the market.

After yesterday’s growth, the pair EUR/USD managed to break through the significant resistance levels and come closer to the November maximum at 1.1860, where the main resistance level is located. Considering the significant overbought of the pair, from this level one should expect the formation of correction, but in conditions of low activity this process can drag on until Monday. Support levels: 1.1820-00 and 1.1770, resistance levels: 1.1860 and 1.1880-1.1900.

Hanzenko Anton