EUR/USD today: the pair maintains a downtrend
Trading on Monday closed with the decline of the pair EUR/USD, despite unjustified fluctuations, which fully met expectations for this pair. At the moment, the pair remains near a significant support 1.1730-20.
Events for today:
- 12:00 – hearing of the Bank of England’s inflation report.
- 13:00 – publication of the index of industrial orders (CBI) in the UK.
- 17:00 – data on sales in the secondary housing market in the US.
The market is focused on data on the UK, which can cause pressure on this pair through the cross EUR/GBP. Data on real estate in the United States will also affect the auctions on the American.
Given the continuation of the downtrend in the pair EUR/USD, one should expect a resumption of the decline. The zone of sales are the levels of 1.1760-80. The break through support 1.1730-20 will open the way for sellers to support levels: 1.1700 and 1.1680. The significant resistance levels are: 1.1810 and 1.1850.
Hanzenko Anton