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Euro bulls attempting to hold above 1.19 – EUR/USD Market Outlook – 16/03/2021

SquaredFinancial

The euro remains stuck in a tight range as the US 10-year yields keep hovering above 1.60%. Meanwhile, major countries such as Germany, France and many others are continuing to suspend the rollout of AstraZeneca’s COVID-19 vaccines, postponing the economic recovery, which is weighing on the single currency. However, this week’s focus remains tomorrow’s FOMC press conference. If the Fed hints of raising rates earlier than expected, then that would push the shared currency much lower. Until then, price will probably consolidate around 1.19.

Support: 1.19 / 1.1835
Resistance: 1.1955 / 1.20

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/euro-bulls-attempting-to-hold-above-1-19-eur-usd-market-outlook-16-03-2021
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