EUR/USD today: the dollar keeps onslaught

On Tuesday, the pair EUR/USD fully met expectations on the decline, but due to high volatility in the stock markets, the American failed to keep earned points. With the positive dynamics of European stock indices, the American growth resumed, thereby resuming a downtrend in the pair.

Events for today:

• At 17:30 – data on oil reserves in the United States.

The day is not fruitful. The market is focused on the dynamics of stock indices, the positive start of which indicates a recovery.

With the growth of optimism in the market due to the recovery of stock indices, the US currency receives support, which also caused a fall in EUR/USD and an increase in the American against most competitors. Despite the formation of a stable downward trend, which is traced from Friday, the further strengthening of the American remains limited to support level of 1.2320-00. This level corresponds to the lower boundary of the lateral channel, in which the pair moves for a second week in a row. Given the present uncertainty and the absence of significant drivers for strengthening of the American, from this level it is worth expecting a repulsion, which in the future may indicate a return to the channel from 1.2300 to 1.2500. Fixing a pair below the psychology 1.2300 may indicate a deeper recovery of the American. Support levels: 1.2320-00 and 1.2260-50, resistance: 1.2380 and 1.2400.

Fig. EUR/USD. The current price is 1.2340.

Hanzenko Anton