Important events today:

12:30 UTC – US: inflation for June.

The growth of quotes to the psychological level of 1.30 should be used to open Sell positions in calculation for the strengthening of the dollar after the publication of data on inflation in the USA. Today the US will present a fresh release on the consumer price index, which may come out slightly worse than the median forecasts on the background of strong growth of wages and high employment in the American economy.

Against this backdrop, investors will start buying up the dollar as the Federal Reserve will be forced to continue the cycle of interest rate hikes. Initially, investors expect that the Fed in December may begin to reduce interest rates, but after the publication of strong inflation data such expectations will be leveled, which is favorable for the growth of the dollar.

Recommendations: Sell 1.2980/1.3020 and TP 1.2870.