The Euro comes under fresh pressure on Thursday and probes again below 2022 low at 1.1121 (Jan 28) after several attempts failed to register a clear break lower.
Deteriorating geopolitical situation on continuing clashes in Ukraine, fears of stronger impact of massive sanctions imposed to Russia, as energy prices continue to rise and surge in EU’s producer prices, weigh strongly on the single currency, also pressured by strong risk aversion.
Fresh bears eye key supports at 1.1040/00 (Fibo 76.4% of 1.0635/1.2349/psychological) violation of which would spark stronger acceleration and unmask 2020 low at 1.0635.
Daily studies remain in full bearish configuration, but bears require confirmation on eventual close below 1.1121 pivot, to resume
Res: 1.1121; 1.1187; 1.1200; 1.1226.
Sup: 1.1057; 1.1040; 1.1000; 1.0980.
