A mixed background is being formed today. On the one hand, positive quarterly reporting by leading US corporations pushes up the S&P500 stock index, which is one step away from a new historical maximum. This currency pair has been correlated well with the American stock market for the last twenty years, and against this background it can get good support.

On the other hand, a surplus of dollar liquidity in the interbank market may cause a sellout of the American currency. The growth rate of the money supply in the United States is still the highest among the G-20 countries and this factor contributes to the decline in dollar rates on the interbank market. The bankers have a surplus of dollars and they are increasing every month.

Investment idea: flat 104.50-105.35.