FXStreet reports that analysts at Westpac discuss EUR/USD prospects.

“European Council’s intention is to reinforce solidarity but it may also highlight failings in covid vaccination rollout as well as difficulties in vaccine production and delivery. It may also raise issues around the financial response to the pandemic given that the much-vaunted Recovery Fund is still to be disbursed.” 

“Stuttering vaccine and fund roll-outs have weighed on regional sentiment especially as the path for unwinding lockdown restrictions is being delayed.”

“EUR/USD is likely to remain contained within an effective 1.20-1.23 range.”