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April,7 - EUR/USD: Struggling around 1.07 area

Although euro's recent decline from 1.1147

 

EUR USD07042020to as low as 1.0769 yesterday suggests correction from March's near the 3-year bottom at 1.0637 has ended, subsequent recovery would bring sideways trading before marginal weakness, near term loss of downward momentum would keep price above 1.0721 today.

On the upside, only a daily close above 1.0866 may risk stronger retracement towards 1.0904 before the prospect of another fall later this week.

Lang

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