Opinion on the EUR/USD pair. The single currency is positively adjusted.

The single currency maintains a positive sentiment against the US dollar due to the weak position of the US dollar, as well as the stabilization of political tension in Germany. On Sunday, the Conservative Party, led by Angela Merkel, agreed to negotiate with the Social Democrats on the creation of a coalition, which will help break the deadlock and stabilize the political situation in Germany. Also, the creation of the ruling coalition will help to avoid repeated elections and save Angela Merkel the Prime Minister’s chair for a fourth term.

Technical analysis: During today’s trading, the pair EUR/USD is moving in a narrow range, which is due to the consolidation of positions after Friday’s growth and the recovery of trading volumes, after a long weekend in the US. The main resistance levels are considered at 1,1985; 1.2015. Support levels are considered at 1,1910, 1,1860.

Fig. EUR/USD chart, current price – 1,1950.

Also, see: “EUR/USD today: euro is waiting for correction.“

Alexander Sivtsov