EUR/USD continues to draw bids on risk aversion. Markets are a sea of red on oil price sell-off and virus fears. EUR/USD continues to find bids and gain altitude amid broad-based risk aversion in the financial markets. The currency pair jumped to 1.1396 early Monday to hit the highest level since June 2019 and was last seen trading in green near 1.1380, having ended the last three straight weeks on a positive note. The financial markets are a sea of red this Monday, with oil benchmarks reporting a 22 percent slide. Meanwhile, the futures on the S&P 500 are reporting a 4.5% drop and the US 10-year yield has dropped to record lows below 0.5%. Saudi Arabia slashed its export oil prices over the weekend in what is likely to be the start of a price war aimed at Russia, according to The New York Times. Russia on Friday to join the Organization of the Petroleum Exporting Countries in a large production cut. The sell-off in oil has bolstered the risk-off tone already prevalent in markets due to coronavirus fears. The virus continues to spread outside China, notably in Italy and South Korea, at a faster rate. As per Washington Post, some White House officials are worried that the number of confirmed cases in the US would double or more in the next 48 hours. So, the anti-risk environment is likely to persist, keeping the EUR better bid. The common currency bottomed out below 1.08 on Feb. 20 and has rallied by over 500 pips ever since, establishing itself as a safe-haven currency. Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/JPY Price Analysis: Refreshes five-month low, near key horizontal support FX Street 3 years EUR/USD continues to draw bids on risk aversion. Markets are a sea of red on oil price sell-off and virus fears. EUR/USD continues to find bids and gain altitude amid broad-based risk aversion in the financial markets. The currency pair jumped to 1.1396 early Monday to hit the highest level since June 2019 and was last seen trading in green near 1.1380, having ended the last three straight weeks on a positive note. The financial markets are a sea of red this Monday, with oil benchmarks reporting a 22 percent slide. Meanwhile, the futures on the S&P 500 are reporting… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.