EUR/USD today: the euro recovers after decline
The EUR/USD pair is trading with strengthening after yesterday’s decline on the general strengthening of the US dollar. As a result, this pair left a multi-day flat. Amid the weakness of the American dollar and attempts to correct, the euro is trying to return to the established channel above the zone 1.1160-70.
Events for today:
- 15:30 – the US data will be released: core retail sales index (m/m) (July), initial jobless claims, nonfarm productivity level (q/q) (Q2), Philadelphia Fed production activity index (Aug), retail sales (m / m) (July) and labor costs (q/q) (Q2).
- 16:15 – industrial production (m/m) (July) in the United States will be published.
- 17:00 – business inventory (m/m) (June) in the USA will be released.
The day today is very saturated with statistics on the United States, which will make the afternoon more volatile.
The EUR/USD pair remains in the correction phase after yesterday’s decline. A resumption of decline can be expected at the break of support 1.1140-30. Significant resistance is located at the level of 1.1160-70, a break through which will indicate the return of the pair to the side channel.
Read also: “Fundamental Analysis: Employment Report
and its impact on the dynamics of the national currency”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
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