EUR / USD today: the pair is waiting for correction
After Friday’s growth, the pair EUR / USD maintains an uptrend, but is limited to overbought. The main driver of the American dollar sale is Friday’s employment report in the US, which significantly lowered expectations about tightening monetary policy in the US in the near future.
Events for today:
- 22:00 – the index of consumer credit in the US.
Also today, the ECB head Draghi will have speeches, which are not expected to make significant statements, but they may cause an increase in volatility.
In the face of a significant overbought pair EUR / USD, its further growth remains limited. Therefore, in the near future we should expect the formation of a turn from the resistance level 1.1780-90. The more significant resistance is the level of 1.1800. Support is located at the levels: 1.1720-50 and 1.1700.
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Hanzenko Anton