ECB Session on Thursday may press EURUSD
EURUSD is in a bearish movement during the last 10 days. This movement is based mainly on the strength of USD as the greenback takes advantage of the rising US bond yields that have touched the price area of 1.60%.
The pair started in February, 25 from the area of 1.2240 and it is currently moving below 1.19.
Moreover, there may be further reasons for further drop this week. There is the Interest Rates decision along with the Monetary Policy in Eurozone on Thursday and there is a high probability that ECB will keep the rates unchanged but on the same time and there may be a case where the purchase of the assets may increase in order to deal with the high bond yields.
This fact is able to press the shared currency (EUR) even more lower than the current levels and prices close to 1.16 is a realistic script for the pair.