During the Asian session, the euro weakened against the dollar. Earlier this week, European Central Bank President Christine Lagarde said that eurozone monetary policy would not keep pace with US Federal Reserve policy. The conflict in Ukraine and the repercussions of harsh sanctions against Russia have very different consequences for the economies of the United States and Europe. A NATO meeting is being held today, at which a new set of sanctions against Russia will be discussed, primarily in terms of the embargo on oil and gas imports. The euro is currently exchanged for 1.09800 dollars, which is a weakening of the common European currency by 0.19% since the beginning of trading tonight. We are in a bearish trend after EURUSD encountered an obstacle at the 1.11000 level. Pair is already on its fifth day in a downward trajectory, and we are now testing a 1,10000 level in search of potential support. The previous support was at 1.09000 from March 14, and we are very close to this year's minimum at 1.08000. For the bullish option, we need new positive consolidation and growth above 1.11500. After that, our target is 1.12000 level, and the additional resistance at that level is our MA50 moving average.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.