A mixed background is being formed today. On the one hand, the continuation of the uptrend in the US stock market may provide good support for this currency pair insofar as it is historically correlated with the S&P500 index. About 70% of American corporations, which have already reported for 2020, claimed about revenue and net income growth better than the consensus forecast.

In 2021, companies will be able to increase their revenues and net income, which will allow them to return to paying generous dividends to shareholders, which in turn will have a positive impact on business capitalization. On the other hand, inasmuch as the US Federal Reserve does not want to raise interest rates in the next two years, the negative real yield on US bonds will contribute to a decrease in the dollar, which may cause a drop in the quotes of this currency pair.

Investment idea: flat 103.85-104.80.