The $EURUSD exchange rate has entered this week's trading under pressure.
Enter your emailThe EUR/USD exchange rate has entered this week's trading under pressure.
The euro-dollar pair tried to recover to the level of 1.1246 after the announcement of the start of negotiations between Russia and Ukraine, but the fears of its failure is the closest to its success, as military actions between the two sides exist despite the negotiation.The euro enjoyed a strong rebound against the dollar on Friday as financial markets seemed to be singing a seemingly mild international sanctions response to Russia's attempted invasion of Ukraine.
For example, it could be that a European Council vote is necessary to implement an EU asset freeze - with similar steps elsewhere in the G7 - which would create a window for the CBR to convert its reserves into alternative stores of value such as the Chinese renminbi and gold. He added, “While markets were not anticipating an imminent rate hike by the European Central Bank, there is a market risk for a tightening in late 2022 and fade and affect the EUR/USD pair. In our view, economic risks to the downside open the way for EUR/USD to test the 1.1106 support level.” With last week's lows around 1.1107 aside, there are few technical hurdles to stop any further declines by the Euro once below there until it hits the 1.1002 level, which marks the 78.
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