EUR/USD today: the dollar is recovering
Trading on Tuesday opened with a restrained recovery of the US dollar across the market. The reason for the restoration of the American dollar was data on the progress in the US – China negotiations. As a result, the EUR/USD pair from the start of the day has been trading near the current week high 97.50.
Events for today:
- 17:00 – existing home sales (September) in the USA will be released.
In addition to a fundamental increase in optimism, the American dollar was supported by a technical correction after the decline. As a result, the EUR/USD pair remains under the pressure of correction, limiting itself to the support of 1.1110-00. More significant support is located at the level of 1.1080-60, but a test of this level is possible with the growth of optimism in the trade negotiations between the US and China. It is also worth to note the preservation of the monthly uptrend, the resistance of which is located at: 1.1160 and 1.1180.
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Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- USD/CNY – an indicator of the progress of the US – China trade relations
- What to expect from the Bank of England in the face of a tough Brexit
- The results of the US-China trade talks
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