EUR/USD soggy around 1.2340, USD firmer
|- The pair remains in a consolidative mode around 1.2340 on Friday.
- The greenback stays bid and approaches 90.00 gauged by DXY.
- US 10-year yields in the upper end above 2.90%.
The single currency remains vulnerable at the end of the week and is now taking EUR/USD to the vicinity of session lows around 1.2340.
EUR/USD fragile on USD-buying
The pair looks fragile on Friday amidst the continuation of the upside momentum around the greenback, which managed to trade at shouting distance from the critical barrier at 90.00 the figure when tracked by the US Dollar Index.
Collaborating with the up move in the buck, yields of the key US 10-year reference managed to test highs in the 2.94% area, although retracing part of the advance during the Asian trading hours.
The lack of traction around the shared currency has been also in response to weaker prints from the ZEW Survey and somewhat disappointing inflation figures in the region during last month, both readings released earlier in the week.
Adding to the downbeat mood around EUR, speculations are growing bigger around the likelihood that the ECB could delay any news regarding its ‘exit strategy’ at its meeting next week.
Absent releases in the euro bloc and across the pond today, the focus should be on the speech by Chicago Fed C.Evans on the Economy and Monetary Policy.
EUR/USD levels to watch
At the moment, the pair is losing 0.06% at 1.2339 facing immediate contention at 1.2300 (low Apr.12) seconded by 1.2214 (low Apr.6) and finally 1.2153 (low Mar.1). On the upside, a break above 1.2414 (high Apr.17) would target 1.2478 (high Mar.27) en route to 1.2538 (high Jan.25).
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