The American stock market is trading near historical maximum, which is positive for this currency pair, inasmuch as assets have been historically correlated with each other. The Conference Board published strong data on the consumer confidence index yesterday. The indicator renewed multi-year maximums against the background of the implementation of Joe Biden’s anti-crisis program, which was approved in March in the amount of $1.9 trillion.

Giving money to the public and investing in infrastructure development boosts consumer confidence in the United States. Against this background, government spending becomes corporate income, which in turn contributes to the growth of business capitalization. I am waiting for new records for the American stock index S&P500, which will allow this currency pair to demonstrate the growth of quotations to the nearest resistance level.

Investment idea: Buy 108.70/108.35 and take profit 109.20.