Breaking: EUR/USD tumbles to new 2021 low under 1.2050

Yohay Elam FXStreet

EUR/USD has slipped below 1.2050, falling to the lowest levels since early December – a new 2021 trough. The common currency is struggling amid a slow vaccination drive in the old continent in comparison to the UK and the US. While Gross Domestic Product figures beat estimates, they still showed a squeeze of 0.7%.

The euro has been falling despite some dollar weakness. The safe-haven greenback has been on the back foot after President Joe Biden met with ten Republican senators to discuss new relief for the economy, in talks described as "productive."

Markets are eyeing further vaccine and virus developments.

Euro/dollar's next cushion is at the round 1.20 level, which capped it in late November. It is followed by 1.1960 and 1.1930. Resistance above 1.2050 awaits at 1.2180 and 1.2150.

EUR/USD Price Forecast 2021: Euro-dollar long-term bullish breakout points to 1.2750

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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