- The euro is still unable to confirm over 1.1900 against the dollar.
- ECB minutes point to action in December and give a low inflation outlook.
The EUR / USD extended the pullback after hitting a two-month high at 1.1940 and fell to 1.1884. It is trading just below 1.1900, holding a bullish bias, but with the momentum in favor of the euro easing.
Minutes from the European Central Bank (ECB) slightly pushed the EUR / USD down. In the document, the ECB warned that the pandemic could leave long-term damage to the economy.
The activity in the financial markets is limited and with the limited volume due to the holiday in the US Stock markets are retreating slightly, cutting part of the recent rise which contributes to giving the dollar some stability.
From a technical point of view, EUR / USD remains bullish, but needs a close above 1.1900 / 20, to enable more raises, which would be expected to extend to 1,2000. On the downside, the 1.1860 zone emerges as a key support, which if it yields would take a moment from the euro. Below then appears 1.1815, where the 20-day moving average is passing.
Technical levels
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