Following two consecutive daily pullbacks, EUR/USD is now posting some modest gains in the mid-1.1200s at the time of writing. EUR/USD has reclaimed the 1.1250/60 band, or daily highs, on Thursday amidst the broad-based cautious note in the global markets.
In fact, the pair has been navigating in an erratic fashion as of late, broadly in tandem with the risk-appetite trends and investors’ alternating sentiment. Indeed, the resurgence of new coronavirus cases in China and Europe in combination with the unabated uptrend in infected cases in the US have been lending support to the safe haven universe in detriment of the demand for the riskier assets, all collaborating with the leg lower in the pair following monthly tops beyond 1.1400 the figure (June 10).
