On Wednesday, the EUR/USD pair significantly strengthened amid the decision by the American regulator to keep its interest rate unchanged. At the same time, in the Statement it was noted that the possibility of policy tightening in the nearest future is very high.
Today, pair’s dynamics can be affected by the publication of data on the Chicago Fed National Activity Index and on Jobless Claims in the US. In addition, high on the market can be caused by ECB President Draghi speech regarding economic conditions in the eurozone.
Support and resistance
On the , the instrument broke out a strong at 1.1120. is directed down while the price range is narrowing. histogram is near the zero line. has left the oversold zone.
The indicators recommend waiting for clearer trading signals.
Support levels: 1.1217, 1.1199, 1.1182, 1.1148, 1.1100, 1.1070.
Resistance levels: 1.1250, 1.1271, 1.1280, 1.1306, 1.1327.
Long positions can be opened from current prices with the target at 1.1280 and stop-loss at 1.1195. Validity – 1-2 days.
Short positions can be opened from the level of 1.1195 with the target at 1.1150 and stop-loss at 1.1220. Validity – 1-2 days.