Germany is about to allow travels to 31 European countries from mid-June, German Foreign Minister Heiko Maas conveyed today.  Mr. Maas stated that lift of travel ban for European Union member states plus Britain, Iceland, Norway, Liechtenstein and Switzerland from 15 June.

Europe has lifted many corona virus-based restrictions, Businesses are reopening and many children are back in school in Europe. UK’s Prime Minister Boris Johnson gave a televised address in order to give some idea of how the country was going to exit from its lockdown. “If you ask me am I absolutely certain that we won’t be living with this for a long time to come. It may be that we have to become ever more flexible, ever more agile, ever-smarter in the way that we tackle, not just this infection, but potentially future infections as well,” Johnson said.

Italy is all set to receive €20 billion ($22.47 billion) from a new European scheme that is aimed at overcoming the effects of corona virus economic crisis, Prime Minister Giuseppe Conte said during a news conference. The wider European Union package provided by the European Investment Bank would help the country to economically recover fast., added Conte.

France has eased many restrictions. People have been allowed to travel within 100 km from their place of residence without requiring permission. Around One million children to rejoin school is expected in France.

France, Germany, Italy, and the Netherlands have forged an alliance to speed up the development and production of a vaccine against the new corona virus “on European soil,” said the Dutch Health Ministry in a statement. The countries, now part of the Inclusive Vaccine Alliance, are “convinced that a successful result requires a joint strategy and investments,” said the statement. The alliance is currently exploring initiatives and is in discussions with various pharmaceutical companies.

EUR/USD 4 Hours chart:

Support: 1.1124 (S1), 1.1079 (S2), 1.1043 (S3).

Resistance:  1.1204 (R1), 1.1240 (R2), 1.1285 (R3).

The easing of lockdown restrictions in EU tends to create a positive sentiment for EUR. We expect a bullish trend for the pair.