EUR/USD today: the pair continues to rise

At the beginning of the day, the EUR/USD pair has updated the maximum of January and the last few years, which completely refuted expectations for a correction on the pair. The growth of the euro was caused by the general sale of the American currency against the background of the resumption of stock indices.

Events for today:

• 15:30 – a block of news on the US: the number of issued construction permits in the US, the number of issued construction permits in the US (m/m), the US export price index (m/m), the volume of construction of new homes in the US, the volume of construction of new homes in the US (m/m) and, the US import price index (m/m).
• 20:00 – the number of drilling rigs in the US from Baker Hughes.

Today is very busy with statistics on the US, which can contribute to the correction of the American. But, despite the oversold of the dollar, the market is focused on recovery of stock indices.

In the conditions of the recovery of stock exchanges and the oversold of the American before the upcoming news, there is a very ambiguous picture. Thus, the continued optimism in the market will continue to put pressure on the American, but its oversold will limit the decline, which in the end can cause correction from long-term highs. Reverse zone: from 1.2480 to 1.2550, the exit from which will indicate the possibility of further movement to either side. Support levels: 1.2450 and 1.2390, resistance: 1.2570 and 1.2610-20.

Fig. EUR/USD. The current price is 1.2530.

Hanzenko Anton