EUR/USD jumps to weekly highs above 1.1350 as US dollar tumbles
|- Euro extends gains versus US dollar, to the highest in 12 days.
- Greenback drops sharply across the board as US yields move lower.
The EUR/USD pair continued to rise during the American session boosted by a decline of the US dollar and also by a rally of GBP/USD. The euro reached the highest level since February 7. It is having the best performance against the US dollar in almost a month.
The pair trades around 1.1350, consolidating important daily gains and also away from the 3-month low it hit last week. The rebound is about to face the 20-day moving average at 1.1360. A break higher could signal more gains ahead.
The main driver has been US dollar weakens. The DXY broke below 96.70 and fell to 96.45, reaching a 1-week low. Lower US yields softened the demand for the dollar. No particular headlines triggered the decline. Comments from Fed’s members and also some optimism about Brexit that boosted the pound, contribute to the slide of the greenback.
Trade talks between the US and China are taking place. On Wednesday, German PPI and FOMC minutes will be released.
Technical Levels
EUR/USD
Overview:
Today Last Price: 1.1349
Today Daily change: 0.0034 pips
Today Daily change %: 0.30%
Today Daily Open: 1.1315
Trends:
Daily SMA20: 1.1368
Daily SMA50: 1.1392
Daily SMA100: 1.1402
Daily SMA200: 1.1526
Levels:
Previous Daily High: 1.1336
Previous Daily Low: 1.1289
Previous Weekly High: 1.1344
Previous Weekly Low: 1.1234
Previous Monthly High: 1.1586
Previous Monthly Low: 1.1289
Daily Fibonacci 38.2%: 1.1318
Daily Fibonacci 61.8%: 1.1307
Daily Pivot Point S1: 1.1291
Daily Pivot Point S2: 1.1267
Daily Pivot Point S3: 1.1245
Daily Pivot Point R1: 1.1337
Daily Pivot Point R2: 1.1359
Daily Pivot Point R3: 1.1383
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.