EUR/USD today: the dollar resumes decline
Yesterday’s expectations regarding the consolidation of the EUR/USD pair were justified. At the beginning of trading on Wednesday, there is a growing pressure on the US currency, which contributes to the restrained growth of the euro.
Events for today:
- 17:00 – publication of data on the US: the US consumer confidence index by CB and index of unfinished sales in the US real estate market (m/m).
- 23:35 – release of weekly stocks of crude oil in the US according to the American Petroleum Institute (API).
On restrained pre-New Year trading, the pair EUR/USD demonstrates growth based on the weakness of the American and on the growth in demand for safe haven assets.
Despite the fact that the trade range from 1.1820-00 to 1.1880-1.1900 remains relevant, there is a high probability of exit from this corridor. So, with the fixing of the price above the 1.1900 level, further growth of the pair due to the low liquidity and further weakening of the American to resistance levels: 1.1930 and 1.1960 is possible. On the other hand, the rapid correction of the US dollar may cause the pair to fall to support levels: 1.1820-00.
Fig. EUR/USD. The current price is 1.1880.
Hanzenko Anton