EUR/USD today: euro is near significant support 1.1500 - Ester Holdings

EUR/USD today: euro is near significant support 1.1500

After another decline at the start of the day the EUR/USD updated two months low at 1.1500 on the negative sentiment on the stock markets, the preservation of risks in Italy and the general growth of the US currency. Thus, the pair maintained the downtrend and increased overbought in the US dollar.

Events for today:

  • 19:00 – the speech of Fed Chairman Mr. Powell will take place.
  • 23:30 – API weekly crude oil stocks in the United States.

A further EUR/USD pair decline is likely to be limited by oversoldness and the expectation of the speech of the US Federal Reserve System’s Governor, which will take place today. As a result, a correction to resistance levels is possible: 1.1550 and 1.1570. If the tone of the US Federal Reserve Governor remains hawkish, the American currency will be supported. As a result, we can expect another test of support for 1.1500, consolidation below it will open the way to 1.1450-60.


Read also: “Carry trade – the earnings strategy on cross-rate “

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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