EURUSD chart analysis

During the Asian trading session, the euro weakened against the dollar. Accelerating yields on U.S. government bonds influenced the price of gold to pullback yesterday. The ten-year bond again yields more than 3% giving strength to the U.S. currency. On the one hand, the euro is under pressure from officials' statements that the situation in Europe is not going well due to the sanctions against Russia. On the other hand, the prospect of increasing the interest rate of the European Central Bank due to rising price inflation keeps the euro in the focus of currency traders. During the European trading session, the euro recouped losses incurred in the previous session. The euro is now being exchanged for 1.07100 dollars. That represents the strengthening of the common European currency by 0.09% since the beginning of trading tonight. A regular meeting of the ECB is to be held tomorrow. If the European bullish trend continues, the pair could climb to 1.07500 levels. Otherwise, if a new negative consolidation occurs, we will see a drop below the 1.07000 level and then a potential visit to the previous support zone around 1.06500.