EUR/USD today: the pair is in the power of the mood

Trading on Wednesday closed a restrained weakening on the resumption of risks. As a result, a downward trend was confirmed, which, in turn, is limited by support levels: 1.1560-50.

Events for today:

• 12:00 – volume of industrial production (m / m) (July).
• 14:20 – monthly OPEC report  will be published.
• 15:30 – production data in the US: coreproducer price index (PPI) (m / m) (Aug), producer price index (PPI) (m / m) (Aug).
• 21:00 – “Beige Book” of the Fed will be published.

The main driver of the market is the mood in the market. With the growth of optimism, the dollar resumed its decline in the European session, but is limited by a downward trend.

The EUR/USD remains in a downward trend, remaining under pressure of risks and limited to resistance levels: 1.1600 and 1.1620-30. Support is located at the levels: 1.1550 and 1.1500.

Read also: “Geopolitical risks as the fundamental factors of the market”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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