EUR/USD remains on the defensive and challenges 1.1200 By pabspiovano EURUSD Currencies Majors
Flash Germany CPI, US ISM Manufacturing next of relevance.to recede from earlier tops near 1.1230 to the sub-1.1200 region on turnaround Tuesday.EUR/USD resumes the downside and now adds to Monday’s losses around the 1.1200 neighbourhood after the Russian offensive is expected to continue until its target is achieved, said Russia’s Defence Minister.
In the meantime, spot is expected to remain under scrutiny for as long as the military conflict in Ukraine lasts, always tracking the risk aversion sentiment as well as safe haven dynamics. trends for near-term direction. On this, the recent deterioration of the Russia-Ukraine front is expected to keep the pair under pressure amidst solid risk-off sentiment and demand for the greenback.
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