May 03, 2022 - 03:11 PM 257 views
reported that, currently, the EUR/USD currency pair struggles to reside above
the key 1.05 support.
The EUR recovery needs a change in the
ECB policy statement.
praised US dollar, the poor performance of European equities, and the fears
generated by the ongoing Russia-Ukraine conflict and the ever-changing
diplomatic relations between Brussels and Moscow. All these factors are the key
reasons for the EUR/USD currency pair's weakness.
The EUR currency
probably needs a shift in the European Central Bank (ECB) policy statement, and
the timing of that may be uncertain (the meeting will probably be held on June
9th). The EUR/USD pair remains at the risk of dipping below 1.05 until the
Spending a week
with the FOMC meeting and not seriously taking any action on the Eurozone
calendar or on the European Commission Board (ECB) speaker front, this could
definitely materialize a major technical break down.