After attempts to rebound higher with gains to the level of 1.0564, it returned to decline in its broader path down to the level of 1.0460 at the time of writing the analysis.
The euro fell a bit on Wednesday as we continue to see more of a “risk-off” type of move in the market.
During the recent trading sessions, we noticed a rebound in the price of the euro currency pair against the dollar, EUR/USD, with gains to the resistance level of 1.0556.
Euro exchange rates were flat at the start of the new week's trading and at least some of the rally can be attributed to comments by a prominent member of the European Central Bank.
The euro rallied just a bit on Monday to show signs of life again, but at this point, it seems that the market is in a strong downtrend.
The euro took a hit amid another hike in natural gas prices, this time on news of new moves by Russia to restrict supplies to Europe.
The Euro has bounced ever so slightly during the trading session on Friday, limping into the weekend.
The Euro has broken below the crucial 1.05 level, an area that will attract a lot of attention.
Despite the recent stability of the EUR/USD currency pair's performance, the US dollar continued its strength.
The euro went back and forth on Wednesday as the 1.05 level continues to offer a lot of support.
For the second week in a row, the price of the EUR/USD currency pair is moving in narrow ranges.
The euro initially tried to rally on Tuesday but gave back the gains as we approached the 1.06 level.
The EUR/USD exchange rate was unable to escape from the bottom of its recent low and entered the new week's trading at the risk of further losses.
The euro went back and forth on Monday as we continue to respect the 1.05 level as support.
The EUR/USD is stuck close to the lowest level this year as investors focused on the interest rate decision by the Federal Reserve and the average US jobs data.
