EURUSD long view

During the Asian session, the euro strengthened against the dollar. Disappointing data on economic activity in the federal state of New York strengthened the thesis about the potential slowdown of the strongest economy in the world, so the US dollar is in a slight retreat. Political coordination between representatives of EU member states continues. Yesterday's meeting of EU foreign ministers showed no consensus in the EU for introducing an embargo on oil imports from Russia, which is positive news from an economic point of view. From a political point of view, disagreement within the EU is not in favour of the euro. The euro is exchanged for 1.04850 dollars, which represents the strengthening of the common European currency by 0.50% since the beginning of trading tonight. The bullish trend has been continuing since yesterday, the pair has found support at 1.04360, and since then, we have seen a strong bullish momentum. The next bullish target is the 1.05000 level. If the euro managed to consolidate above 1.05200 levels, it would return to the previous May zone of movement. The maximum in May so far was at the 1.06420 level. We need new negative condolence and a retreat to the previous support zone at the 1.04300 level for the bearish option. After that, the pair could drop to the next support at 1.040000 dollars with increased bearish pressure. The May low is at the 1.03477 level.