EUR/USD today: the single currency remains under pressure

After a lateral movement on Wednesday and the pair EUR/USD decline on the optimistic FOMC protocol, this pair managed to gain a foothold below the psychology 1.2300, which indicated the downtrend and the possibility of further decline of the pair.

Events for today:

• 14:30 – the minutes of the ECB meeting on monetary policy.
• 15:30 – the number of initial applications for unemployment benefits in the US.
• 18:00 – a report on oil reserves in the United States.

The market continues to assess the threefold probability of raising rates in the US, while not excluding the possibility of a fourth increase this year. But, despite this, the US currency remains in overbought, which can provoke a correction.

In turn, the pair EUR/USD remains below the level of 1.2300, which opens the way to support levels: 1.2230 and 1.2200. Resistance is located at the levels: 1.2300 and 1.2350. In the case of the formation of a correction, the pair can move to flat.

Fig. EUR/USD. The current price is 1.2280.

Hanzenko Anton