FX.co ★ berta.hill | EUR/USD

Good day to everyone! EURUSD is starting the week in the middle of two flat ranges. By the end of the day, the currency pair may drop to support at 1.1380. Despite the lack of major news today, the overall fundamental backdrop remains in favor of the US dollar. Bears are increasing pressure against the backdrop of German PPI for June, which confirmed a slowdown in inflationary pressure in the EU. This seriously weakens the EUR ahead of the ECB meeting on Thursday. During the US session, the trend will be set by the Conference Board Leading Index (17:00 MSK). Analysts expect confirmation of the strength of the US economy, which will support growth of the US Dollar Index (DXY) on the Forex market.