A positive background is being formed for this currency pair today. Firstly, the US Treasury today will place treasury bonds in the amount of $99 billion, which will provide short-term support to the American currency.

Secondly, the American stock index S&P500 has renewed its historical maximum, which is also favorable for this currency pair, inasmuch as it is historically correlated with the North American stock market. Investors are increasing the volume of stocks in their portfolios, insofar as the Fed’s soft credit-money policy prevents them from earning acceptable bond yields.

Trading recommendation: Buy 109.80/109.50 and take profit 110.32.