EUR/USD breaks under 1.1900, as the US dollar rises further


  • Euro remains under pressure versus US Dollar, DXY eyes 92.00.
  • Greenback extends gains even amid lower US yields.

After a brief consolidation pause, the EUR/USD resumed the downside and broke under 1.900, falling to 1.1890, the fresh two-month low. The pair has now fallen almost three hundred pips from the level it had a week ago.

USD, the shinning start no matter what

The US dollar printed fresh highs against most G10 currencies. In that group the yen is the outperformer on Thursday, still the greenback is the best of the week.

The fresh high of the US dollar took place even as US yields decline sharply. The 10-year is falling more than 6.35%, now under 1.48%, and even below the level it had prior to the release of the FOMC statement that triggered the rally of the greenback.

Equity prices are mostly lower in the US. The Dow Jones drops 0.93%, the S&P 500 falls by 0.38% while the Nasdaq gains 0.38%. Caution still prevails among investors driving demand for the US dollar.

The EUR/USD is on its way to the lowest daily close since April 7, the first one under the 200-day moving average in two months. Despite oversold readings in technical indicators, the momentum is still sharply negative, with the negative tone intact. On the downside, the next support might be seen around 1.1870/75.

Technical levels

EUR/USD

Overview
Today last price 1.19
Today Daily Change -0.0094
Today Daily Change % -0.78
Today daily open 1.1994
 
Trends
Daily SMA20 1.2173
Daily SMA50 1.2098
Daily SMA100 1.204
Daily SMA200 1.1995
 
Levels
Previous Daily High 1.2135
Previous Daily Low 1.1994
Previous Weekly High 1.2218
Previous Weekly Low 1.2093
Previous Monthly High 1.2266
Previous Monthly Low 1.1986
Daily Fibonacci 38.2% 1.2048
Daily Fibonacci 61.8% 1.2081
Daily Pivot Point S1 1.1948
Daily Pivot Point S2 1.1901
Daily Pivot Point S3 1.1807
Daily Pivot Point R1 1.2088
Daily Pivot Point R2 1.2182
Daily Pivot Point R3 1.2229

 

 

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