EUR/USD Forecast: Euro finds support near 1.0800, bearish outlook remains intact

EUR/USD recovered modestly after testing 1.0800 to start the week. The cautious market stance could limit the pair's upside in the near term. Several Fed policymakers are scheduled to deliver speeches later in the day. The pair clings to small daily recovery gains in the early European session but the near-term technical outlook suggests that the bearish bias remains unchanged. Euro price today The table below shows the percentage change of Euro against listed major currencies today.

The broad-based US Dollar strength on the back of upbeat macroeconomic data releases in the second half of the previous week forced EUR/USD to decline sharply. While commenting on the policy outlook late Friday, Atlanta Federal Reserve Bank President Raphael Bostic said that he is less confident on the trajectory of inflation than he was in December and added that he was now anticipating the Fed to lower the policy rate once this year. Later in the day, Bostic will be speaking again.

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