Euro maintains the bearish bias despite edging higher on Monday EUR EURUSD $EUR $EURUSD
The market’s sentiment remained sour amid persistent tensions between Russia and Ukraine.
Market players await the US Federal Reserve monetary policy decision and the first rate hike in years.managed to post some gains on Monday, now heading into the Asian opening trading at around 1.0960. The pair seesawed alongside the market’s sentiment, with the latter depending on Ukraine-Russia headlines. The recent news on the matter points to a pause in the latest round of peace talks announced by Ukraine’s negotiator Mikhail Podolyak, which will resume on Tuesday.
According to the 4-hour chart, the risk is also skewed to the downside, as sellers continue to reject bulls at around a flat 20 SMA, which develops below firmly bearish longer moving averages. At the same time, technical indicators have turned marginally lower within negative levels, hinting at another leg south without confirming it. Below the 1.0900 figure, the pair will likely extend its slide below the current 2022 low of 1.0805.
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