EUR/USD today: the euro maintains growth on the weakness of the dollar
On Monday, the trades opened with the growth of the EUR/USD pair, continuing to strengthen on the general weakness of the US currency. The reason for the decline in the dollar continues to be political risks in the United States and the growth of pessimistic market sentiment associated with the expectation of the results of the US and China negotiations .
The economic calendar today is empty. In addition, in the US and Canada is a day off, which will cause a decrease in activity at the end of the day.
EUR/USD on Friday’s correction and growth formed today an upward correctional movement against a two-week decline. Thus, in the conditions of preserving apessimism in the American dollar, we can expect a test of resistance levels: 1.1340 and 1.1370. Support is located at the levels: 1.1300 and 1.1280. It is worth noting that the weakness of the American dollar is associated with political risks and low activity, which could change dramatically.
Read also: “Cross-rates characteristics”
Hanzenko Anton
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