EUR/USD: Euro Rebound Emerges After Defending 2021 Low

EUR/USD appears to be defending the yearly low (1.1952) even as European Central Bank (ECB) officials endorse a dovish forward guidance for monetary policy, and the exchange rate may continue to retrace the pullback from the February high (1.2243) if it snaps the series of lower highs and lows carried over from the previous week. EUR/USD bounces back from a fresh weekly low (1.1992) as the ECB scales back the pace of the pandemic emergency purchase programme (PPEP) for the third consecutive week, and the decline from the January high (1.2350) may turn out to be a correction in the broader trend rather than a change … (full story)

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