EUR/USD Forecast: Risky to bet on a Euro rebound

EUR/USD slumped to a fresh 2024-low below 1.0700. Dovish comments from ECB officials weigh on the Euro. The USDpreserves its strength as markets expect a further delay in the Fed policy pivot. Although the pair's technical outlook points to oversold conditions, it might be risky to bet on a Euro rebound amid diverging European Central Bank and Federal Reserve monetary policies. The ECB left key rates unchanged as expected following the April policy meeting.

Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD .

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