EUR/USD Holding Up Well Despite Ukraine Conflict

EUR/USD Holding Up Well Despite Ukraine Conflict

If there were ever an opportunity for the euro to reach parity with the US dollar, it would have been now. But EUR/USD has held up better than most would have expected given the severity of the Ukraine conflict.

Granted, at the time of writing, the pair is down by some 1.2% since the beginning of last week, but it tested and failed to make a sustained break below the 1.11224-1.11166 region. Had it done so, all eyes would have been on a continuation of the downtrend started in the final quarter of last year.

Instead, EUR/USD, like Ukrainian defence efforts, has faced decent support in the face of severe adversity. Furthermore, there is quite a bit of price congestion/buy zone support for EUR/USD in the 1.08090-1.03529 region.    

For the moment, EUR/USD has formed a range between 1.14836 and 1.11224. But recent price congestion points to moves above 1.3700 and below 1.12600 as giving a degree of confidence of potential direction.   

Posted In: contributorseuroEurozoneForexMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.