Opposition to EU's Budget Increases Euro's Downside Risk



WikiFX News (18 Nov.) - Recently, EUR/USD grew to as high as 1.1869 amid the rising risk sentiment fueled by the progress in new vaccine and the signing of the Regional Comprehensive Economic Partnership (RCEP) Agreement. However, the pair remains at the risk of dropping down.
Executive Board member Isabel Schnabel stressed the need for “further monetary policy support to underpin economic activity” in light of the second wave of Covid-19 infections.
In addition, Hungary and Poland blocked approval of the EU's €750-billion economy rescue package. The two countries, who have been attacked over the rule of law so far, are opposed to the plan in its present form to tie rule of law criteria to budget decisions. A delay to the package may hamper the bloc's economic recovery, putting downside pressure on the euro.
According to EUR/USD trend chart, the pair's price is trying to break the recent high of 1.1869, while bearish RSI divergence suggests that a pullback towards the 1.1832 could be on the cards. Breaching that would likely result in price testing the 200-DMA of 1.17800.
All the above is provided by WikiFX, a platform world-renowned for forex information. For details, please download the WikiFX App: bit.ly/wikifxIN

Chart: Trend of EUR/USD
Latest News
-
How To Make Huge Profit Consistently From For ex
WikiFX | News 2021/2/26 6:38:39
-
Daily Forex Analysis - 25 February 2021
WikiFX | News 2021/2/25 4:06:34
-
USD Poised to Reverse amid Expectations of Fed's Exit| Influencer‘s Insight •Jasper Lo
WikiFX | News 2021/2/25 7:01:59
-
Daily Forex Analysis - 26 February 2021
WikiFX | News 2021/2/26 5:41:50
-
Spring Is Coming, WATCH OUT!
WikiFX | Exposure 2021/2/25 9:27:08
-
K.I.S.S. – ‘Keep it Simple Stupid Forex Trading Method’
WikiFX | News 2021/2/25 8:15:12
-
Gold and Bitcoin Won’t ‘Cannibalize’ Each Other: Goldman Sachs Analysts
WikiFX | News 2021/2/25 1:50:20
-
The Most Dangerous Time to Trade
WikiFX | News 2021/2/26 8:30:11
-
Keep Revenge Trading from Blowing up Your Account
WikiFX | News 2021/2/25 6:37:12
-
Earn EA Cloud today, Future’s not the same.
WikiFX | News 2021/2/25 3:50:46
New Zealand Dollar
- United Arab Emirates Dirham
- Australia Dollar
- Canadian Dollar
- Swiss Franc
- Chinese Yuan
- Danish Krone
- Euro
- British Pound
- Hong Kong Dollar
- Hungarian Forint
- Japanese Yen
- South Korean Won
- Mexican Peso
- Malaysian Ringgit
- Norwegian Krone
- New Zealand Dollar
- Polish Zloty
- Russian Ruble
- Saudi Arabian Riyal
- Swedish Krona
- Singapore Dollar
- Thai Baht
- Turkish Lira
- United States Dollar
- South African Rand

United States Dollar
- United Arab Emirates Dirham
- Australia Dollar
- Canadian Dollar
- Swiss Franc
- Chinese Yuan
- Danish Krone
- Euro
- British Pound
- Hong Kong Dollar
- Hungarian Forint
- Japanese Yen
- South Korean Won
- Mexican Peso
- Malaysian Ringgit
- Norwegian Krone
- New Zealand Dollar
- Polish Zloty
- Russian Ruble
- Saudi Arabian Riyal
- Swedish Krona
- Singapore Dollar
- Thai Baht
- Turkish Lira
- United States Dollar
- South African Rand
- Amount
- New Zealand Dollar
- Available
- -- United States Dollar