The EUR / USD has fallen below 1.2050, reaching the lowest levels since the beginning of December, a new low in 2021. The common currency is struggling in the middle of a slow vaccination campaign in the Old Continent compared to UK and US While eurozone GDP figures for gross domestic product were above estimates, they still showed a 0.7% contraction.
The euro has been falling despite some dollar weakness. The safe-haven US dollar has been on the defensive after President Joe Biden met with ten Republican senators to discuss a new economic relief program, in talks described as “productive.”
Markets await new developments on vaccines and the virus.
The next support of the EUR/USD is on the round level of 1.20, which capped the pair in late November. Follow him 1.1960 Y 1.1930. Resistance above 1.2050 wait in 1.2180 Y 1.2150.
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