EUR/USD is operating within a Pre-Covid19 range (albeit Covid lockdown declared in March 2020).
This indicates, following lockdown easing, the euro is entering a 'business as usual' range.
Buyers are willing to pay up to 1.11538, with buyers occasionally engulfing the bearish sellers.
Note, if the usual range is 1.113 to 1.150, with prices currently operating below this threshold, then surely willing to pay between this range, they would scoop up the additional euros on the Interbank market for a significant P&L saving in 2020?
On that basis, as trade continues to reconvene, the demand for the Euro would continue the upwards trajectory into the previous range.
It'll be interesting to see the level of volatility Brexit negotiations create on the Euro.
This indicates, following lockdown easing, the euro is entering a 'business as usual' range.
Buyers are willing to pay up to 1.11538, with buyers occasionally engulfing the bearish sellers.
Note, if the usual range is 1.113 to 1.150, with prices currently operating below this threshold, then surely willing to pay between this range, they would scoop up the additional euros on the Interbank market for a significant P&L saving in 2020?
On that basis, as trade continues to reconvene, the demand for the Euro would continue the upwards trajectory into the previous range.
It'll be interesting to see the level of volatility Brexit negotiations create on the Euro.