EUR/USD today: EUR/USD pair remains in the correction phase
After yesterday’s sluggish trading and a new resistance test at the beginning of the day, based on the resumption of the investigation regarding the links between Trump and Russia, the pair EUR/USD resumes the downward movement. Pressure on the dollar in the Asian session was also caused by the exacerbation of geopolitical tensions from North Korean data, which caused investors to flee from risks.
Events for today:
- 15:00 – the speech of the President of the Bundesbank, Weidmann.
- 15:30 – a news block on real estate in the US.
This pair remains in the correction phase after growth at the beginning of the week, but is limited to the support level of 1.1750-60. From a technical point of view, further decline in the pair is very likely, but political risks in the US and geopolitics are likely to limit this movement. Therefore, trades are expected in the range from 1.1750 to 1.1830. The breakthrough of support 1.1750-60 will open the way to the level of 1.1700. Resistance is located at the levels: 1.1830 and 1.1860.
Hanzenko Anton