FX.co ★ EUR/USD analysis for April 01 2021 - SIdeways condiiton with potential for downside continuation and test of 1.1705

CB's Weidmann: Might miss Eurozone 2021 growth forecasts if virus restrictions are extended

Remarks by ECB policymaker, Jens WeidmannUS stimulus cannot be a model for EuropeMeasures of financing costs for households, businesses may not yet fully reflect changes in bond yieldsA bit more of a dovish (but realistic) take by Weidmann there but generally, there seems to be a broad consensus within the ECB that they don't want bond yields to respond by rising too quickly - at least for the time being.Further Development

Analyzing the current trading chart of EUR/USD, I found that EUR is in the consolidation phase but that trend is still downside.My advice is to watch for selling opportunities with the downside target the balance low at 1.1705.

Key Levels:

Resistance: 1.1757Support level: 1.1705