fxstreet.com 01 Feb, 2021 14:45 am

EUR/USD could extend its slump to 1.1970

EUR/USD could extend its slump to 1.1970
The EUR/USD pair has bottomed for the day at 1.2069, still holding above a major support level at 1.2060, the 38.2% retracement of its November/Januar

FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.Key quotes “The shared currency fell despite better-than-expected data.The final version of the European Markit Manufacturing PMIs were upwardly revised, with the German index up to 57.

Technical indicators turned south, heading lower within negative levels.” “The 4-hour chart shows that the risk is skewed to the downside, as the pair is developing below firmly bearish 20 and 100 SMAs.

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