EUR/USD today: the dollar is adjusted after the decline
On Tuesday, the EUR/USD pair updated its high at the level of 1.1410 from the start of the day, that was caused by the exacerbation of risks. After that, the pair was under the pressure of correction, the reason for which served as technical factors.
Events for today:
- 16:00 – S&P/CS Composite-20 housing cost index will be released without seasonal fluctuations (y/y) (Apr) in the USA.
- 17:00 – data on the USA will be published: consumer confidence index CB (June) andnew homes sales (May).
- 20:00 – the speech of the Fed Chairman Mr. Powell.
The risks of trade war and the escalation of conflict in the Middle East remain the main factors that set the mood in the market.
EUR/USD is expected to maintain a moderate correction to support levels of 1.1380-60. General upward channel is preserved. Significant resistance is located at the levels: 1.1420 and 1.1440.
Read also: “Candlestick analysis.
Continuation patterns”
Hanzenko Anton
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