Yesterday, the European currency grew against the American dollar. From the opening price of 1.0927, the pair went to 1.1150 by the end of the day. At the moment, euro is at the level of 1.1180 and continues to rise.
Today’s economic calendar contains some news that can influence the volatility of the pair EUR/USD. The main event of the day is the interest rate decision by ECB and press conference of the ECB’s Chairman. Both options, either the increase in the interest rate or maintaining it at the previous level, can help attract investors, which will contribute to strengthening the European currency. Important American statistics also come out today, including the number of employed (ADP) for May and business activity index in the service sector (ISM).
Technically, on the daily chart, the price has broken down the middle line of Bollinger bands and continues to go up to the top line. The nearest support level is 1.1135 (middle line of Bollinger bands). Support levels are 1.1460 (upper line of Bollinger bands) and 1.1350.