EURUSD is testing the 1.1800 level ahead of important data releases
The US dollar appreciated against the euro in the morning, which could have been related to investors' uncertainty regarding the pandemic situation in Europe. Although Merkel has backed away from the idea of introducing a "total" lockdown during Easter, other European countries are considering introducing more restrictive measures. However, EURUSD defended itself against a decline below 1.18, which is also a 4-month low. As one can see, the downward pressure decreased as TNOTE rebounded. The volatility may pick up at 12.30 pm GMT, when US weekly jobless claims and final US GDP data for Q4 2020 will be published.
EURUSD has been trading at the lowest level since November 2020. Volatility may jump at 12:30 pm GMT during data release. Source: xStation5
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