- The dollar loses moment in the moment and moves away from the highs of the day.
- EUR / USD remains negative and bearish, but with support at 1.1815.
EUR / USD fell to 1.1815, from where it bounced and rose to 1.1838. it is trading around 1.1830 / 35, almost 20 pips below Wednesday’s close. Maintains a bearish tone, but eased the pressure after managing to hold above 1.1815.
From Europe to the USA
The European leaders are meeting by videoconference to address the response to COVID-19, the budget of the European Union, and the rescue fund. In addition, Brexit is one more issue.
The euro lost strength in recent hours against the pound and the Swiss franc. The rebound of the EUR / USD was made possible by a fall of the dollar in the market. The greenback is still with gains but it moved away from the highs of the day. The DXY returned to the 92.50 zone after approaching 92.70.
The economic calendar ahead shows interesting US economic reports that include the weekly unemployment benefit claims report, the Philly Fed indicator, the existing home sales data and the Conference Board consumer confidence index.
The loss of dollar strength coincided with a slight rebound in stocks. Wall Street futures now point to a negative opening of the main indices of 0.25% on average.
Technical overview
The EUR / USD found support again at the 1.1810 / 15 zone, which also slowed the pullback on Monday. A drop below would leave 1.1800 vulnerable. Below the next target is 1.1775 / 80. In the opposite direction, 1.1850 stopped being a support and became a considered level of resistance. A return above would remove the strength to the dollar.
In a broader perspective the key barrier remains 1.1900 / 20. The break from that level would leave the way with few obstacles for 1.2000.
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