EUR/USD hits a new 34-month low at 1.0823 in early Asia. Corrective bounce to remain limited, as technical set up favors bears. Focus on German ZEW, coronavirus updates for fresh impetus. Despite the latest recovery attempt from a new 34-month of 1.0823 reached in early Asia, the sentiment around the EUR/USD pair remains undermined by the German economic growth concerns and broad-based US dollar strength. King dollar rules the roost The US dollar clocked a fresh four-month high across its main competitors at 99.24 earlier today after a renewed risk-aversion wave gripped the Asian markets amid rising concerns over the economic fallout of the China coronavirus globally. The greenback’s haven demand was boosted after Apple Inc. warned about its slowdown in production and weakened demand in China due to the virus outbreak. On the EUR-side of the story, the shared currency continues to remain weighed down by mounting fears of a recession in Germany. Meanwhile, the German central bank, Bundesbank, reported in its monthly report on Monday, the economic growth will likely remain weak in the first quarter of 2020. This further added to the bearish sentiment seen around the euro. In the day ahead, the spot remains exposed to further downside risks, as the German ZEW Economic Sentiment is expected to worsen to 21.5 in February vs. 26.7 reported in January. Further, EUR/USD’s near-term technical outlook also paints a bearish picture, with a test of the psychological support at 1.0800 on the cards. EUR/USD Technical levels to consider 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 Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. FXStreet News share Read Next GBP/USD extends losses to sub-1.3000 area, UK unemployment rate in focus FX Street 2 years EUR/USD hits a new 34-month low at 1.0823 in early Asia. Corrective bounce to remain limited, as technical set up favors bears. Focus on German ZEW, coronavirus updates for fresh impetus. Despite the latest recovery attempt from a new 34-month of 1.0823 reached in early Asia, the sentiment around the EUR/USD pair remains undermined by the German economic growth concerns and broad-based US dollar strength. King dollar rules the roost The US dollar clocked a fresh four-month high across its main competitors at 99.24 earlier today after a renewed risk-aversion wave gripped the Asian markets amid rising concerns over the… Top 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.
