During the Asian session, the EURUSD pair was in lateral consolidation. The EU decided yesterday to introduce additional sanctions against Russia. The economic effects of the ban on imports and trade with Russia will leave a mark on the economic activity of the eurozone. Optimism for a breakthrough in the negotiations between Russia and Ukraine is "lean". The rhetoric of high-ranking Western officials remains harsh, which lowers the euro against the world's main transaction "safe haven" currency - the dollar. The euro is currently exchanged for 1.08650 dollars, which has been weakening the common European currency by 0.28% since the beginning of trading tonight. For the bearish option, we need further negative consolidation of 1.09000. Our next target is 1.08000, a lower low in March. Below this potential support, the pair enters the zone of this year's new minimums, and the lower potential target is 1.07000.
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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.