EUR/USD today: the pair maintains an uptrend

The EUR/USD pair keeps the uptrend on dollar weakness, after its decline on Thursday and attempts of growth on Friday at the beginning of the day. The main driver for the growth of this pair is the expectation of the rates cut in the United States and the overall decline of the American dollar. This formed an uptrend for this pair, limited to the resistance level of 1.1270-80.

Events for today:

• 15:30 – the US data will be released: producer price index (PPI) (m/m) (June) and producer price index (PPI) (m/m) (June).

EUR/USD continues to trade in the upward channel, limited to support levels: 1.1250 and 1.1240 despite attempts to reduce. At the same time, the potential for growth remains, limited to resistance levels of 1.1280-90.

Read also: “Stock Indices: European Union”

Hanzenko Anton

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