EUR/USD

EUR/USD

The Euro pulls back from the 1.1890 highs and settles around 1.1850, as Eurozone faces the risk of a renewed economic contraction with the second wave of the coronavirus accelerating across the currency bloc. As a result, the ECB has to do more easing and lift inflation expectations, which will boost demand for the single currency. Apart from the EU summit, today the pair could take cues from the ECB President Lagarde's speech and the broader market sentiment. If equities continue to head lower, then the dollar might pick up a haven bid. Support: 1.1835/ 1.18 Resistance: 1.19 / 1.1920