The single European currency continues to decline against the US dollar after yesterday's ECB meeting.
The main trigger of the fall was the statement of the regulator's head Mario Draghi that interest rates will be kept at their current levels at least until the end of the summer of 2019. However, the quantitative easing program will be completed by the end of this year, as it was planned. Thus, in the global perspective, the dollar still remains a more attractive asset for investment, given the differential in interest rates in the US and the EU.
Today, important data on the US GDP for Q2 2018 will be published: it is expected to grow from 2% to 4.1%, which will also act as a price deflator for the pair. Most likely, the decline in the euro will continue.
Support and resistance
Stochastic is at the level of 15 points and indicates the possible correction.
Resistance levels: 1.1643, 1.1690.
Support levels: 1.1600, 1.1576.
Short positions may be opened from the level of 1.1643 with take-profit at 1.1576 and stop loss at 1.1690.
Euro vs US Dollar
|Support levels||1.1576, 1.1600, 1.1643, 1.1690|
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