EUR/USD fades Friday’s corrective pullback from a five-year low, down 0.20% intraday around 1.0520, during Monday’s Asian session.

In doing so, the major currency pair justifies the bearish bias of the options market portrayed by one-month risk reversal (RR). That said, by the monthly print of 0.638, the RR reversed the March month’s rebound in April.

Looking deeply into the options market data, conveyed by Reuters, the weekly RR was the lowest since early March, down to -0.713.

It’s worth noting that the hawkish expectations from this week’s Federal Reserve (Fed) meeting and the economic fears emanating from the bloc, mainly due to the Ukraine-Russia crisis, exert downside pressure on the EUR/USD prices of late.

Read: EUR/USD retreats towards 1.0500 amid anxiety over ECB vs. Fed action