EUR/USD today: the euro remains under pressure

Yesterday’s expectations for the decline in the EUR/USD pair were partially justified, but they did not give a clear signal for the entrance to the sale.

Events for today:

• 15:00 – release of the estimate of GDP growth in the UK from NIESR.
• 15:30 – publication of the price index for exports and imports in the United States.

Given the preservation of the corrective movement in the EUR/USD pair and the fundamental risks caused by the formation of the parliament in Germany and the parliamentary elections in Italy, one should expect further decline of this pair, which is also indicated by a small recovery.

So, after updating yesterday’s low at 1.1910-20, one should expect further decline to support levels of 1.1880 and 1.1860. After this, the correction of the corrective movement will be against growth from November last year. Resistance levels are: 1.1960 and 1.1980-90, fixation of the price above these levels will cancel the decline of the pair.

Fig. EUR/USD. The current price is 1.1940.

Hanzenko Anton