EUR/USD attempts a mild rebound above parity – by pabspiovano EURUSD Currencies Majors
The dollar now appears offered following recent cycle highs.regains a small smile and advances to the 1.0020 region at the end of the week.EUR/USD manages to reclaim some ground lost after bottoming out in new cycle lows in the mid-0.9900s on Thursday, an area last seen back in December 2002.
In the domestic calendar, EMU Balance of Trade will be the sole release later in the session, whereas The ongoing technical rebound in the pair follows current oversold conditions, although it is unlikely to gather serious traction in this context, and especially before theIn the meantime, the price action around the single currency continues to follow increasing speculation of a probable recession in the euro area, dollar dynamics, geopolitical concerns, fragmentation worries and the Fed-ECB divergence.: Fragmentation risks.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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