EUR/USD today: the dollar resumes its onslaught
At the auction on Friday, the pair EUR/USD updated its weekly high at 1.1680, amid negative expectations about the tax reform in the US and a decrease in the yield of US state bonds. As a result, Friday’s expectations for the trading range were fully justified.
Events for today:
- 19:45 – the speech of the head of the Japanese bank, Kuroda.
- 21:00 – announcement of the report on the implementation of the US federal budget.
The economic calendar is almost empty, so the main dynamics of the market will be generated by expectations and sentiments.
Given Friday’s expectations and the formation of movement against Friday in the market, a moderate decline from the pair EUR/USD to the support levels: 1.1620-00 and 1.1580 is expected. As a result, the overall downward trend will be resumed. The risks associated with the tax reform in the US can resume pressure on the American. Resistance levels: 1.1680 and 1.1700.
Hanzenko Anton