EUR/USD today: the pair is limited to oversold
On Friday, the pair EUR/USD closed lower, which was caused by the growth of the yield of the US state bonds and pessimistic sentiments regarding the euro. As a result, this pair closed the week with a decline.
Events for today:
- 11:00 – data on business activity in the euro area.
- 16:45 – the index of business activity in the manufacturing sector (PMI) of the United States.
- 17:00 – data on sales in the secondary housing market in the US.
The day is very busy with statistics, but they probably will not have a significant impact on the market.
Against the background of a significant overbought of the American currency and state bonds today the movement against Friday is expected, which will eventually cause a test of resistance levels: 1.2290 and 1.2320-30. The main support is located at the levels: 1.2260 and 1.2240, the breakthrough of which will resume the decline.
Fig. EUR/USD. The current price is 1.2270.
Hanzenko Anton