04.06.2020 EUR/USD Daily Analysis

04.06.2020 EUR/USD Daily Analysis

The dollar gained some buyers in the early hours of the European trade Thursday at the tension between China and the US flared up again but they experienced some restrictions ahead of the European Central Bank meeting. The pair is expected EUR/USD to waver on either side of the 100-week MA (1.1220). A breach of this level may see the pair extend towards the 200-week MA (1.1333). EUR/USD dropped 0.2% to 1.1210.  The pair stay steady above the1.12 level that it broke through on Wednesday for the first time since mid-March. The Tension between the US and China has gained some momentum as the US administration suspends flights into its country by China airlines beginning from 16th June,   in response to China prohibiting American carriers from entering its airspace.