Euro against Dollars

• By James Edward
• Posted May 10, 2021
• 0 Comments

The EUR/USD pair stood at the level of 1.2153 with the percentage change of -0.06% when compared to the previous sessions in the trading market on Monday, yet again the EUR/USD pair has witnessed a back and forth momentum in the trading sessions. Euro is now getting less support from the traders who invest in the EUR/USD pair in the trading sessions.

The US Dollar index stood at the level of 90.178, after hitting the lowest level at the level of 90.128 for time since February’s low in the trading sessions.

The dollar has dropped to a two-month low as the investors continued to monitor and assess the implications for monetary policy of the US employment report which turned out to be quite a disappointment ahead of the inflation data this week, and the US created only a few jobs for the citizens and the unemployment data crossed higher than ever which intern impact the economic recovery of the country.

On the other hand the support for the EUR/USD pair is seen at the level of 1.2150 which is followed by 1.2110 and 1.2070, and the resistance for the pair is seen at the level of 1.2190 followed by 1.2240 and 1.2285 in the trading sessions.

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