Euro remains under pressure against the US Dollar amid economic slowdown in Eurozone that enforces the ECB to delay rate hikes. The central bank expects to raise the rates in fourth quarter and would wait till early 2020 to refinance rates from 0 to 0.20%.
Therefore, the EUR/USD pair shows bearish exhaustion as it formed doji candle on daily chart yesterday. Alternatively, the bearish pressure will weaken if the price close above 10-day moving average at 1.1420.
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