The USD Falls

The USD fell this morning during the Asian hours as stock markets saw massive retreats in the wake of COVID-19 cases.

Currently, the Euro versus the USD trades at $1.06967, which is a decline of $0.00010 or 0.01% from the previous close of $1.06977.

The daily range is from $1.0635 to 1.0768, while the trading volume is 601.911K U.S. Treasury Secretary Steve Mnuchin announced that Congress is close to finalising a stimulus package of up to $4 trillion on Sunday, including direct payments of $3,000 to households.

Furthermore, the common currency partly advanced on Friday, which qualifies as a closing price reversal bottom.

The trend is expected in case buyers can take out Friday’s high at 1.0830.