EUR/USD came under bearish pressure in the American session on Monday and dropped to its lowest level since mid-February below 1.0750.
EUR/USD trades below 1.0750 following Monday's sharp decline. Next key support for the pair is located at 1.0700. US data and Fedspeak could drive the USD's valuation. The pair could test 1.0700 next unless it manages to stabilize above 1.0760. The data from the US showed on Monday that the ISM Manufacturing PMI rose to 50.3 in March from 48.4 in February.
Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD .
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