EUR/USD: Bearish pressure eased

Coronavirus crisis extended some support to the USD’s safe-haven status on the first day of the week, Haresh Menghani, an analyst at FXStreet reports.

Key quotes  

“As coronavirus lockdowns tightened across the world, a prolonged period of uncertainty extended some support to the greenback's and helped ease the recent bearish pressure.” 

“The pair witnessed a modest pullback during the Asian session on Monday and for now, seems to have snapped six consecutive days of the winning streak.”

“Hovering around the 200-DMA, below the 1.1100 round-figure mark, developments surrounding the coronavirus saga might continue to play a key role in influencing the pair's momentum amid absent relevant market-moving economic releases.”