EUR/USD today: the euro maintains upward dynamic
On Wednesday, the EUR/USD pair maintains a restrained upward trend, actually being limited by the resistance level of 1.1320-30 and maintaining the uptrend of recent weeks. The limiting factor for the euro is the recent comments by the ECB representatives on the slow growth of the eurozone economy.
Events for today:
- At 15:30 – the trade balance (Feb) of the USA will be released.
- At 16:00 – will be the speech of the Bank of England Governor Karni.
- At 17:30 – crude oil stocks in the United States will be published.
- At 21:00 – the Beige Book of the US Federal Reserve will be released.
The economic calendar is saturated with data after published statistics for Europe.
The EUR/USD pair retains the potential to strengthen in the conditions of preserving the upward dynamics and the overall weakness of the American dollar. Significant resistance continues to be 1.3110-20. A significant support is located at levels: 1.1300 and 1.1280, fixing the pair below which will cancel expectations for growth. Resistance levels are: 1.1350 and 1.1370.
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Hanzenko Anton
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