The Euro is still hovering around the downtrend resistance line as more pressure still affects the market. As long as prices hold below the resistance of 1.1240-80 the drop pressure could continue towards the target and support of 1.1065, which in turn could lead to a correction.
The EUR/USD pair is held in a tight range ahead of the upcoming statement by Christine Lagarde ahead of the ECB decision.
EUR/USD is falling on Monday amid concerns over higher energy prices and France's political stability. The pair continues to hold above the 1.11 level reached last Wednesday.
Fed vs ECB: Rate gap adds to pressure on EUR/USD
Euro: French risks cap upside against US Dollar – ING
Euro: Range trading bias around recent rebound against US Dollar– UOB
The Pound-Euro rate could remain supported if UK jobs and inflation data reinforce November BoE hike bets, while firmer Eurozone PMIs may offer the Euro some relief. The Pound to Euro (GBP/EUR) exchange rate accelerated to a fresh 16-month high last week, supported by surprisingly resilient UK economic growth.
EUR/USD rebound faces a reality check at resistance
EUR/USD opened lower in Asia on Monday following scenes of widespread civil unrest across France over the weekend, with some of the most violent clashes, looting and vandalism taking place in Paris.
CFTC Report: Euro and Aussie shorts build as Gold exposure remains elevated
EUR/USD enters the second half of October at a critical technical juncture after sustained selling pressure drove the pair to its lowest levels in 17 months. The latest recovery offers an initial sign of stabilization, but the broader downtrend remains firmly intact as buyers confront significant resistance overhead.
The Euro-Dollar Edges Higher Near $1.124 as Nordea Cuts Its Recovery Outlook Nordea analysts forecast the Euro to weaken against the US Dollar as French fiscal risks and US investment flows outweigh the currency's latest recovery. The Euro-to-Dollar exchange rate edged higher on Friday, trading at $1.1237 ahead of the weekly close,.