Results of the European Parliament election and the risk-averse market atmosphere made it difficult for the Euro (EUR) to find demand at the beginning of the week, with EUR/USD closing in negative territory for the second consecutive day on Monday.
EUR/USD holds steady near 1.0750 following Monday's decline. The pair could encounter next support level at 1.0730. Investors could refrain from taking large positions ahead of Wednesday's key events. Results of the European Parliament election and the risk-averse market atmosphere made it difficult for the Euro to find demand at the beginning of the week, with EUR/USD closing in negative territory for the second consecutive day on Monday. The pair holds steady at around 1.
2% retracement level meets the 100-day and the 200-day Simple Moving Averages , stays intact as key ahead of1.0850 . 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.
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