Forex forecast for today. EUR/USD is growing up
The Euro/Dollar continues to actively recover in price. On Tuesday, the quotes reached the resistance level of 1.1850.
Buying interest in the European currency remains good and steady in the first half of the week. The pair's recovery is taking place against the backdrop of a corrective decline in US yields. In fact, the yield on 10-year US bonds breaks through the level of 1.7%, entering the area of two-week lows. Euro Zone investor confidence, as measured by the Sentix index, improved to 13.1 in April, while the unemployment rate in February was 8.3% and was worse than expected.
European countries will return to pre-crisis economic growth next year. Such forecasts were made on Tuesday by the chief economist of the International Monetary Fund, Gita Gopinath, at a press conference. She noted that the recovery of the Eurozone countries is taking place at a slower pace after a very serious crisis. The chief economist also added that the strengthening of growth in many countries of the Euro area is at different rates. Germany, for example, will recover in the first half of next year, and Spain - later. The Euro zone states are allocating quite substantial financial assistance to combat the effects of the spread of the new coronavirus, and it is predicted that the situation will improve in the second quarter of this year.
In the forecast, I assume that EUR/USD will continue to grow towards 1.1930.