EUR/USD today: the euro is near significant resistance
The EUR/USD pair has strengthened on the correction of the American dollar and weak US data. As a result, the pair is testing the level of 1.1240. It is worth noting that the zone 1.1240-50 is a significant resistance that may limit the recovery of the euro against the dollar.
Events for today:
- 11:30 – the UK data coming out: Bank credit survey, core retail sales index (m/m) (June) and retail sales.
- 15:30 – the US data will be released: initial jobless claims, Philadelphia Fed index of manufacturing activity (July) and Philadelphia Fed employment index (July).
The day today is full of significant statistics. It is necessary to highlight the data for the UK, which can influence this pair through a cross rate.
The EUR/USD pair maintains an upward correctional dynamics, limited to the level of 1.1240-50. The main driver of the market will be the published data and market sentiment. Therefore, the possibility of movement in the side channel from 1.1250-60 to 1.1220-10 is not excluded.
Read also: “Features of Trading on Crosses containing the Euro (EUR)”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- The trade war. Relations between Japan and South Korea
- The Japanese yen: expectations and prospects.
- US and China return to the negotiation table
Current Investment ideas: