EUR/USD: neutrality remains in place

The announcement by US authorities that the isolation period for infected persons has been halved from 10 to five days has strengthened the USD. Indeed, the market perceives this news as an effort to support the economy and avoid shortages or even paralysis in certain sectors. A few US statistics with a weak impact will enliven the session. The euro-dollar pair continues to sideways in its trading range with very low amplitude sessions. It will take a major catalyst for the pair to give a new direction. The underlying trend remains bearish in the medium term.

MEDIUM TERM FORECAST

Based on the key chart factors we have mentioned, our medium-term view on the EUR/USD is neutral.

We will maintain this neutral view as long as the pair is positioned between support at $1.1200 and resistance at $1.1360.