EUR/USD: Bears to challenge the 1.2000 threshold

The EUR/USD pair has extended its slump to 1.2053 and trades nearby, with majors moving in slow motion amid a US holiday. According to FXStreet’s Chief Analyst Valeria Bednarik bears will try challenging the 1.2000 level.

See – EUR/USD seen at 1.16 on a 12-month view – Danske Bank

Key quotes

“Speculative interest is still digesting the latest coronavirus-related news. Immunization through vaccines is on a bumpy start, with Pfizer announcing a delay in delivery in Europe last Friday. Nevertheless, smoother progress in vaccination is expected in the next few weeks, and so far is not a market’s concern.”

“EUR/USD is technically bearish and poised to challenge the 1.2000 threshold.”