EUR/USD Wanes At Support Level

The currency pair faces renewed bearish pressure in Asia Friday with its price halting at the start of the daily support level. EUR/USD bulls are grappling with the US dollar’s six-straight-day rally.

The Euro apparently continues to be dragged down by the ongoing pressure from European energy prices. USD’s 100 mark according to the DXY index is just around the corner, and this will also weigh on the euro.

Though a weekly resistance is seen in the dollar, its price could still go higher especially as markets settle on the concept of a much more aggressive Federal Reserve in the second quarter. If advances in the dollar index stall, a correction could be on the cards.

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