EUR/USD today: the euro slows downward correction

At Tuesday’s trading, the EUR/USD pair was corrected restrainedly on a rebound from the level of 1.1410, forming attempts of a downward correctional dynamics, which is limited by the level of 1.1350-40. Under the conditions of saving correction, the test of support levels is possible: 1.1320 and 1.1300.

Events for today:

• 15:30 – the US data will be released: the volume of supplies of civilian means of production (excluding aircraft) (m/m), core durable goods orders (m/m) (May), durable goods orders (m/m) (May) and the goods trade balance  (May).
• 17:30 –  crude oil stocks in the United States will be announced.

The day is full of data on the US, which may affect the dynamics of the market. The main driver of the trade are general sentiment, which is very optimistic before the G20 summit.

The EUR/USD pair maintains a downward trend, forming a downward corrective channel, which is limited by the level of 1.1350-40. In the face of growing optimism and American dollar’s recovery, a test of support of 1.1320 and 1.1300 is expected. To form a general downward reversal, it is worth waiting for a fixation below 1.1300 or a repeat of rebound from 1.1370-1.1400.

Read also: “Volatility is the pulse of the market. Indicators of Volatility»

Hanzenko Anton

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

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