EUR/USD today: keeps rising dynamics
Against the backdrop of the continued risk of taxes on the import of steel and aluminum in the US, the US currency is traded lower against its main competitors. Also, data on the formation of a coalition in Germany provide support for the euro.
Events for today:
- 16:45 – data on business activity in the US: the composite index of business activity (PMI) in the US from Markit and the index of business activity (PMI) in the US services sector.
- 17:00 – data on activity in the non-manufacturing sector of the US: the index of employment in the non-manufacturing sector (ISM) of the United States and the index of business activity in the non-manufacturing sector (PMI) of the United States from ISM.
The day is full of data on business activity in the services sector, but the market continues to monitor the elections in Italy.
In conditions of market uncertainty, the EUR/USD remains limited by last week’s highs of 1.2350, from which the repulsion is possible. The breakthrough of this level will indicate the retention of the uptrend in the pair and will open the way to a significant resistance of 1.2400. Levels of support are: 1.2290 and 1.2260.
Fig. EUR/USD. The current price is 1.2320.
Hanzenko Anton