EUR/USD today: the euro resumes growth

Friday’s expectations for the pair did not receive market support. As a result, the pair EUR/USD returned to the uncertainty zone from 1.2340 to 1.2300. The decline in the profitability of the US state bonds and the growth of world stock exchanges are factors of uncertainty.

Events for today:

• 16:00 – the speech of the head of the ECB, Draghi.
• 17:00 – data on sales of new housing in the US.

The day is full of news, but the market will be mainly focused on the upcoming news that will come out during the week.

In conditions of selling the American currency, one should expect further growth of the pair to resistance levels: 1.2360-90, consolidation above which will indicate further growth. In this case, the probability of reducing the pair remains exactly the same as the formation of a flat. Support levels: 1.2300 and 1.2280-60, resistance: 1.2360-90 and 1.2420.

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

Hanzenko Anton