The ECB's announcement of PELTRO (Long Term Refinancing Operations to Help in the Pandemic) gave hope, but hardly caused the rally. The Euro rose on the back of the dollar falling at the end of the month and managed to hold most of its positions. As for the ECB, its new lending schemes should help the most affected European economies, but players were more likely to hear that the bank is expanding its bond buying program.  Head of the ECB Lagarde reiterated that the situation is very serious and added that production may decline by 15% in Q2 and by 12% in 2020.

EUR/USD, 30 min

Pivot: 1.0937