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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.