The EUR/USD pair recovers from an intraday low at 1.2056 but trades below the 1.2100 figure, marginally down on the day. In order to hasten the recovery to the 1.22 level, euro/dollar would need to surpass the 1.2115 handle, FXStreet’s Chief Analyst Valeria Bednarik reports.
US CB Consumer Confidence is expected to have recovered further, from 109.7 to 113.1
“The US will publish the February Housing Price Index and the April Richmond Fed Manufacturing Index. Later in the session, the focus will be on April CB Consumer Confidence, expected to have recovered further, from 109.7 to 113.1.”
“Overall the risk remains skewed to the upside, although the EUR/USD pair needs to accelerate through 1.2115 to gain bullish traction heading into 1.2200.”
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