EUR/USD today: the pair is near significant level

The EUR/USD pair accelerated growth and updated the current week high against the background of weak data on business activity in the USA and the aggravation of risks. Thus, the pair showed signs of a slowdown in the downtrend and corrected after a long decline. But on the inability to gain a foothold above the significant resistance of 1.0950, the pair maintained a downtrend.

Events for today:

• 15:15 – Announce the change in the number of people employed in the non-agricultural sector from ADP (September) in the United States.
• 17:30  – Crude oil reserves in the United States.

In the face of continued negative market sentiment and expectations of the US employment data, the dynamics of the EUR/USD pair will remain moderately upward. We can talk about a reversal after consolidating above 1.0950-60, which is possible on weak US data. So far, this pair is limited to attempts of correction after a decline and a downtrend. Resistance levels: 1.0950 and 1.0970, support: 1.0900 and 1.0880.

Read also: “How Real is the US Currency Intervention”

Hanzenko Anton

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