EUR/USD Review, May 11-15, 2020
11 May 2020
The currency pair declined last week and has broken down 1,0870 support area. EUR/USD stays below this level at the moment of writing.
Market reacted on negative news from the US last week and USD went upwards. USD is still considered to be the shelter. Moreover, EUR/USD is under the pressure due to the information coming from the Eurozone.
We have a pattern of uncertainty on the weekly chart. We expect the currency pair to go down this week as 1,0870 was tested already and the price remained below this level.
