EURUSD recovery is effectively over, according to a new analysis from European lender and investment bank ABN AMRO.

The U.S. Dollar will "not give up easily" says UniCredit Bank in a mid-year assessment of the currency market that shows a concerted break above 1.10 in the Euro to Dollar exchange rate (EURUSD) is a story for 2024.

The Euro to Dollar exchange rate pared away May losses in last week's trade but the rally has already stalled near a stubborn level of technical resistance on the charts while a retracement of recent global market gains and other factors could yet see the single currency slipping back toward 1.08 over the coming days. 

Despite the sharp appreciation of the euro following the European Central Bank (ECB) meeting, Asmara Jamaleh, a researcher at Intesa Sanpaolo Bank, maintains a cautious stance on revising his euro forecasts higher.

TD Securities has laid out its strategy scenario for the Euro to Dollar exchange rate (EURUSD) heading into the midweek Federal Reserve policy decision.

The Euro extends a recovery against the Dollar ahead of this week's central bank meetings but analysts at Rabobank are not convinced the recovery will be sustained for a prolonged period.

The Euro to Dollar exchange rate has rebounded from near three-month lows in recent sessions and entered the new week on the front foot but U.S. inflation figures and interest rate decisions from the Federal Reserve (Fed) and European Central Bank (ECB) are just some of the factors that could undermine its recovery in the days ahead. 

The Euro to Dollar exchange rate (EURUSD) is still favoured to return back above 1.15, however, near-term Dollar strength will continue to frustrate any major recovery for some time yet.

EURUSD is on course to test parity again according to analysis from Capital Economics.

The Euro to Dollar exchange rate entered the new week near a three-month low but could bottom out on the charts this week if the bilateral interest rate differential stabilises and the single currency succeeds in holding above nearby technical support over the coming days. 

The Euro to Dollar exchange rate entered a holiday-shortened week under pressure near two-month lows but could get an opportunity to recover some lost ground in the days ahead if the latest European inflation figures are anything like those released in the UK last week. 

JP Morgan has downgraded its growth forecasts for China in a development that offers support to the Dollar while weighing on the Euro which is highly sensitive to growth prospects in the world's second-largest economy.

The Euro to Dollar exchange rate's correction from year-to-date highs has appeared to peter out in recent trade, leaving intact support levels just beneath the market on the charts, though local economic data and developments across the Atlantic could yet see these tested again this week.

"All this is likely to keep the US dollar supported for a while longer" - XM.com.

Matthew Weller, Global Head of Research at FOREX.com, reports that the U.S. dollar is experiencing a rise against all major rivals, including the Euro, despite the absence of significant U.S. economic data.

The Euro to Dollar exchange rate rose back onto its feet near one-month lows to open the new week but might risk slipping to its softest levels since late March if transatlantic economic data spoils the market's appetite for the single currency.

The EUR/USD is clearly going to be in focus this week with both the Fed and ECB rate decisions to come ahead of U.S. non-farm payrolls report on Friday.

The Euro to Dollar exchange rate entered the new month procrastinating around the 1.10 handle but would likely struggle to sustain itself above that level unless this week's central bank policy decisions provide the single currency with a clearer interest rate advantage over the greenback.

EUR/USD has peaked and will likely trend lower over a three-month horizon, before rebounding strongly over the 12-month horizon.

The Euro to Dollar exchange rate has held onto the bulk of its April gains in recent trade but could further them this week if congressional drama related to the U.S. debt ceiling topples the greenback or if European Central Bank (ECB) policymakers receive a hawkish shock from the local economic data.