EUR/USD today: the pair is under pressure

Trades on Tuesday were closed by the growth of the American, which was caused by weak statistics on Europe and the resumption of optimism in the stock markets. Published weak statistics for the UK and the euro area indicates a repeat of yesterday’s model of the movement.

Events for today:

• 17:30 – data on oil reserves in the USA.
• 21:00 – the “Beige Book” of the US Federal Reserve

Against the backdrop of weak inflation data in Europe, the American will continue to receive support, but it is also worth following the dynamics of the stock indices, the turn of which will indicate the formation of correction.

The main support for the EUR/USD pair is at the level of 1.2350, the breakout of which will open the way to the support levels: 1.2320 and 1.2300, which will also indicate the refraction of the two-week uptrend in this pair. Resistance is located at 1.2370-80, the closure above which will indicate the recovery of the uptrend.

Fig. EUR/USD. The current price is 1.2360.

Hanzenko Anton