Euro / Dollar Nearing a Turning Point but Jury Out On Recovery Prospects

EUR/USD pressuring support at 1.1292, 1.1248 and risks unravelling to 1.10 without a USD retreat.

The Euro to Dollar exchange rate has resumed a "broad based" bear market shows analysis from private Swiss bank and wealth manager Julius Baer.

The latest forecasts from Barclays suggest current lows could have been the single currency’s nadir.

The Euro to Dollar rate sustained its largest decline since late September last week, breaking a major technical support level while placing another near 1.1425 under pressure along the way.

Germany's coronavirus situation was on Wednesday described as "dramatic" by Chancellor Angela Merkel, raising expectations that further societal curbs to control the virus could be introduced.

The Dollar is the best performing major currency of the past month and the past week, but it is looking pricey at current levels and foreign exchange analysts at Crédit Agricole expect it to be "stopped in its tracks".