EUR/USD today: the pair is limited to flat
From the start of the day, the EUR/USD pair continues to trade in a narrow flat, having rebound from the support level of 1.1180. Almost a weekly movement of the pair in the side channel is due to the lack of significant drivers.
Events for today:
- 15:30 – the US data will be released: core producer price index (PPI) (m/m) (July) and the producer price index (PPI) (m/m) (July).
Despite the fact that the EUR/USD pair tested the support level of 1.1180, there was no actual breakthrough, which kept the side channel from 1.1180-70 to 1.1230-40 and continued the formation of the side triangle, indicating the preservation of the monthly downtrend and market uncertainty.
Read also: “Gold is limited to annual correction! What to expect?”
Hanzenko Anton
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