Market Analysis

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September 22, 2020 03:54 am

EUR/USD. September 22, 2020 – Euro continues to weaken

The European currency continues to weaken against the US dollar, falling to the level of 1.1690. The current quote for the EUR/USD pair is 1.1700. The main pressure on the European currency is exerted by the increase in the number of cases of coronavirus in Europe, which creates a risk for the introduction of new quarantine measures in the region.

Additional pressure on the euro rate came from the speech of the head of the European Central Bank Christine Lagarde. She stated the need to carefully study the macroeconomic reports of the euro area, as the economic recovery is uneven and unstable. In the evening hours today, you should pay attention to the speech of the head of the Fed D. Powell.

The RSI indicator maintains momentum for further decline. The forecast for tomorrow assumes attempts to consolidate the dollar below the level of 1.17.

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