The EUR/USD pair trades in negative territory for the seventh consecutive day around 1.0965 during the early European session on Monday.
EUR/USD weakens to near 1.0965 in Monday’s early European session. The bullish outlook of the pair looks fragile on the daily chart, with the RSI indicator holding below the midline. The initial support level is seen at 1.0881; the immediate resistance level is located at 1.1000. The major pair remains under selling pressure amid the further upside in the US Dollar .
The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year.
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