Daily Pivots: (S1) 1.0768; (P) 1.0798; (R1) 1.0837; More… Intraday bias in EUR/USD remains neutral for consolidation above 1.0759 temporary low. But deeper decline is expected as long as 1.0903 resistance holds. Fall from 1.1094 is seen as correcting whole up trend from 0.9534. Below 1.0759 will target 1.0515 cluster support, 38.2% retracement of 0.9534.

As of now, the EUR/USD is trading at 1.0800. The currency pair has been in a downtrend since the beginning of the year and is currently trading near its 2023 lows.

A number of critical factors are contributing to the weakness of the euro. One factor is the ongoing war in Ukraine. The war has caused economic uncertainty in Europe, and it has also led to higher energy prices. This has put downward pressure on the euro.

Another factor leading to the weakness of the euro is the divergence between the European Central Bank (ECB) and the Federal Reserve (Fed) monetary policies. The ECB is expected to keep interest rates low for the foreseeable future, while the Fed is expected to raise interest rates severally  this year. This difference in monetary policy is making the dollar more attractive to investors.

The current trend for EUR/USD is down. However, a few factors could cause the currency pair to reverse course. One aspect is if the war in Ukraine ends. Another factor is if the ECB starts to raise interest rates. If either of these events occurs, it could lead to a rebound in the euro.

Overall, the current trend for EUR/USD is down. However, a few factors could cause the currency pair to reverse course.