Euro falls on vaccine delays and German business sentiment.
Euro is under bearish pressure today as the result of the medium-strength bearish euro sentiment – as the markets are starting to focus on the large scale delays in the vaccine rollout in Eurozone and the economic impact of lockdowns in Europe. German business morale fell to a six-month low in January, surprising market participants who were expecting the rise in the survey. It is starting to become evident that the slow roll-out of the vaccine programmes and the still rather tough lockdown restrictions in Europe are overshadowing the positive effect of the previously announced huge aid plan in USA. This should put more bearish pressure on this currency pair in the coming trading sessions.
Expect sellers on upward corrections.
Next support to watch – 1.2075
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