- The dollar retreats slightly at the start of the week, but EUR / USD remains under pressure.
- The pair cannot move away from the 2021 floor and remains around 1.1450.
The EUR / USD begins the week calm after having the lowest close since mid-2020 at the 1,145 zone0, which is where it is operating. The pair rose to 1.1463 in the Asian session but then fell to 1.1435, to stabilize around 1.1450.
The dollar is showing some weakness, although it is not being exploited for the EUR / USD, which is not far from the low in a year and a half to which it fell on Friday at 1.1432.
The president of the European Central BankChristine Lagarde will speak before the European Parliament on Monday. In the US, the data to highlight will be the Empire Manufacturing index, and on Tuesday the retail sales index.
The markets in general present some calm with the dollar retreating and a climate of rise in the equity markets, and a slight retreat in the yields of the Treasury bonds.
Technically, EUR / USD remains strongly bearish. The 1.1430 / 35 zone is the current floor, which if broken would enable more casualties with a possible target in the 1.1400 zone. To the upside, the first resistance looms at 1.1465, followed by 1.1485 and then previous support at the 1.1525 area; a rise on the latter would ease the negative pressure on the euro.
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
