The Euro has shown plenty of weakness against the US dollar since the beginning of the year. The last significant strength it showed was in the last week of January. Since then, it aggressively shot for its pre-pandemic prices in early 2020. The next low it’s looking for is perhaps from 2017, at 1.03400. However, it showed strong bullish sentiment in the week that just passed. This could mean that the Euro holds off the 2017 lows for the time being.
For interest sake, while the Euro has taken out 2020 lows, GBPUSD is still over a thousand pips away from its respective low of 1.14000. The GBPUSD closed last week at 1.24900.
