Current trend
EUR shows a moderate decline against USD during the Asian session, developing flat dynamics in the short term.
Investors are in no hurry to open new trading positions, preferring to wait for today's publication of US inflation statistics. If the data indicate an increase in inflationary pressures, this could serve as a reason for the US Fed to revise its monetary policy towards tightening.
Today, traders will also focus on the decision of the European Central Bank (ECB) on the interest rate with a follow-up press conference. No changes in the monetary policy of the European regulator are expected, but updated forecasts will be important.
Support and resistance
Bollinger Bands in D1 chart demonstrate active decrease. The price range is changing slightly, but remains rather spacious for the current level of activity in the market. MACD is going down preserving a sell signal (located below the signal line). Stochastic, having interrupted its active growth at the beginning of the week, reversed into a horizontal plane, indicating an approximate balance of power in the ultra-short term.
Technical indicators do not contradict the further development of the downtrend in the short and/or ultra-short term.
Resistance levels: 1.2200, 1.2233, 1.2265, 1.2309.
Support levels: 1.2150, 1.2100, 1.2050, 1.2000.
EUR shows a moderate decline against USD during the Asian session, developing flat dynamics in the short term.
Investors are in no hurry to open new trading positions, preferring to wait for today's publication of US inflation statistics. If the data indicate an increase in inflationary pressures, this could serve as a reason for the US Fed to revise its monetary policy towards tightening.
Today, traders will also focus on the decision of the European Central Bank (ECB) on the interest rate with a follow-up press conference. No changes in the monetary policy of the European regulator are expected, but updated forecasts will be important.
Support and resistance
Bollinger Bands in D1 chart demonstrate active decrease. The price range is changing slightly, but remains rather spacious for the current level of activity in the market. MACD is going down preserving a sell signal (located below the signal line). Stochastic, having interrupted its active growth at the beginning of the week, reversed into a horizontal plane, indicating an approximate balance of power in the ultra-short term.
Technical indicators do not contradict the further development of the downtrend in the short and/or ultra-short term.
Resistance levels: 1.2200, 1.2233, 1.2265, 1.2309.
Support levels: 1.2150, 1.2100, 1.2050, 1.2000.