EUR/USD today: the euro is limited to oversold
After the publication of inflation data in the euro area and the speech of the ECB President, the single currency was under considerable pressure, which was largely caused by the expectation of a soft monetary policy from the ECB. Against this background, the EUR/USD pair has updated the last weeks low at the level of 1.1180.
Events for today:
- 15:30 – data on construction in the USA are coming out: building permits (May) and new houses starts (m/m) (May).
- 17:00 – will be the speech of the Bank of England Governor Carney
- 17:00 – the speech of the ECB President Draghi
After the sale of the euro on the expectation of easing of the monetary policy of the ECB, the single currency was significantly oversold.
EUR/USD is fixed below the psychological level of 1.1200, which indicates the resumption of the overall downward trend. At the same time, the decline in this pair is limited by oversold.
Deals for sale should be considered after the correction and updating of the lows at the level of 1.1180-70.
The significant resistance is the mark: 1.1200 and 1.1220, support: 1.1130 and 1.1100.
Read also: “Trade in currency baskets”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- What is expected from the June US Federal Reserve meeting
- U.S. trade opposition. What are the risks
- Political risks are escalating around candidates for the Prime Minister in the UK
Current Investment ideas:
- Where else, if not on the banking sector! Earn with an investment idea from an Ester company’s expert!
- The best software for earnings on the technology giant’s Microsoft shares is inside! Connect!
- Hewlett-Packard shares are ready to close the gap, and we are ready to close the profits!
- Several reasons to buy Walmart shares. Use the chance to earn!