EUR/USD remains offered and breaks below 1.1200.

EUR/USD adds to recent losses in the sub-1.1200 area.The dollar remains strong and weighs on the pair.Sellers remain in control of the shared currency and drag.EUR/USD back below 1.1200 the figure at the end of the week.Russia-Ukraine.EUR/USD is down for the third session in a row on Friday, always on the back of the solid demand for the greenback, which remains in turn underpinned by the persistent risk aversion.

Indeed, investors keep favouring the “flight-to-safety” sentiment at the end of the week against the backdrop of further deterioration in the Russia-Ukraine front.The move lower in spot came in tandem with renewed weakness in yields of the key 10y German Bund, now gyrating around the 0.16% area as the demand for bonds remain firm.

EUR/USD continues to look to the geopolitical scenario and risk appetite trends for near-term direction. On this, the recent deterioration of the Russia-Ukraine front is expected to keep the pair under pressure amidst solid risk-off sentiment and demand for the greenback. In the meantime, bouts of strength in the pair should remain underpinned by speculation of a potential interest rate hike by the ECB probably sooner than many anticipate, higher German yields, persevering elevated inflation and a decent pace of the economic activity and auspicious results from key fundamentals in the region. The threat to this view, as usual, comes from the Fed and a potential tighter-than-expected start of the normalization of its monetary conditions.

EUR/USD levels to watch

So far, spot is losing 0.14% at 1.1175 and faces the next up barrier at 1.1323 (55-day SMA) followed by 1.1390 (weekly high Feb.21) and finally 1.1395 (weekly high Feb.16). On the other hand, a drop below 1.1106 (2022 low Feb.24) would target 1.1100 (round level) en route to 1.1000 (round level).

EUR/USD drops below 1.1200 as Russia-Ukraine tensions mount.EUR/USD is trading under pressure below 1.1200, as the US dollar catches a fresh bid in a renewed risk-aversion wave. Reports that Russia is closing in on Kyiv is spooking markets. US inflation and Biden-NATO meeting eyed. 

EUR/USD News.GBP/USD erases gains below 1.3400 as Russia closes in on Kyiv.GBP/USD is paring back gains while falling below 1.3400, as risk-off flows return on reports of Russia looking to attack Kyiv yet again. The safe-haven US dollar is finding fresh demand ahead of the key US data and NATO meeting. 

GBP/USD News ….Gold to remain volatile around $1,917 amid Russia-Ukraine war.Gold price braces for yet another turbulent day, with volatility to remain through the roof amid incoming updates on the Russia-Ukraine war. Russia is reportedly ready for taking control of Kyiv.

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