EUR/USD today: the pair remains in flat

After the pair EUR/USD gained a footholf above 1.2300, yesterday’s expectations for the decline were in doubt, which was caused by the pair’s transition into a sideways trend. At the same time, the basic drivers for strengthening of the American are in force, thereby contributing to the reduction of this pair.

The day is not full of data on the US, and the published statistics for the euro area did not have a significant impact on the market.

In the conditions of formation of the lateral trend, the probability of a reversal has sharply increased, which is due to the safety of the general upward trend in the EUR/USD pair since December of last year. So, the main resistance is the zone 1.2340-30, fixing the price of which will indicate the possibility of forming a correction. The return of the pair below the zone 1.2300-1.2260 will indicate the preservation of the downward dynamics to the support levels: 1.2230 and 1.2200.

Fig. EUR/USD. The current price is 1.2310.

Hanzenko Anton