EUR/USD, Fundamental Analysis

The USD Continued to Grow Strong Over Covid-19 Outbreak Corncerns

EUR/USD: The pair is trading mostly flat, but the price has finally declined below 1.1200 marks as USD continued to grow strong over escalating concerns on the second wave of COVID-19 outbreak. But the decline was capped, and price dances around 1.12 mark as focus shifts to EU council meeting, which votes on support package spending increase proposal. Traders now await cues from the EU council vote for directional bias and the US macro data for short term profit opportunity.

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TAGS: COVID-19EURUSD Fundamental Analysis

Karthik Subramanian
June 20, 2020

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