EUR/USD today: the euro remains restrained

At Monday’s trading session, the EUR/USD pair kept a restrained lateral dynamics, showing a reduced activity and a narrower trading range from 1.1040 to 1.1015. This indicates the persistence of uncertainty associated with the risks of rates cuts in the United States and the lack of significant drivers.

The EUR/USD pair shows restraint, limiting itself to a decline in optimism and attempts of the American dollar to restore. So, at the start of the day,  the last trading days low was updated, and marks continue to act as significant resistance: 1.1050-60.

We should expect the formation of a downward dynamic in the conditions of repeated updating of the lows and fixing of the pair below the zone 1.1050-70.

Read also: “A new front opens in the trade war”

Hanzenko Anton

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