EUR/USD: Bulls look to test multi-month highs near 1.1240

  • US dollar index stalls recovery near 96.65.
  • Euro lifted by rally in German yields and upbeat German/ EZ PMIs.
  • Next of relevance remains US economic data and trade headlines.

EUR/USD has turned positive over the last hour, extending its gradual recovery from near 5-DMA support of 1.1204, as the USD bulls take a breather amid widening German-US 10-yield differential.

A solid surge in the German benchmark 10-year government bond yields has resulted in a huge gap between the German-US 10-year yields spread, eventually rendering EUR positive at the expense of the greenback.

Therefore, the US dollar’s recovery from five-month lows across its main peers stalls at 96.63, driving the spot back towards the four-month highs of 1.1241 reached on the final trading day of 2019.

Further, upward revisions to the December Eurozone and German Manufacturing PMIs also collaborates with the renewed upside in the main currency pair. Eurozone and German Final Manufacturing PMIs for December arrived at 46.3 and 43.7 respectively vs. 45.9 and 43.4 their respective flash readings.

Looking ahead, holiday-thinned trading will continue to persist, keeping the range in the spot limited. However, volatile moves cannot be ruled out amid thin conditions and ahead of the US Jobless Claims and Manufacturing PMI data. Markets also eye US-China trade updates for some trading impulse.

EUR/USD Technical levels to consider


Today last price 1.1214
Today Daily Change -0.0008
Today Daily Change % -0.07
Today daily open 1.122
Daily SMA20 1.1126
Daily SMA50 1.1089
Daily SMA100 1.1063
Daily SMA200 1.1143
Previous Daily High 1.1262
Previous Daily Low 1.1158
Previous Weekly High 1.1189
Previous Weekly Low 1.1069
Previous Monthly High 1.124
Previous Monthly Low 1.1002
Daily Fibonacci 38.2% 1.1222
Daily Fibonacci 61.8% 1.1197
Daily Pivot Point S1 1.1165
Daily Pivot Point S2 1.1109
Daily Pivot Point S3 1.1061
Daily Pivot Point R1 1.1269
Daily Pivot Point R2 1.1317
Daily Pivot Point R3 1.1373



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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD rebounds after dismal US PMIs

EUR/USD is trading closer to 1.0850, rising in response to weak US PMIs, with the services one pointing to contraction. Earlier, German Manufacturing PMI beat estimates. 


GBP/USD advances to 1.2950 after US data

GBP/USD is trading around 1.2950, taking advantage of US weakness stemming from a downfall in Markit's Services PMI in the US. In Britain, the Manufacturing PMI exceeded estimates. 


Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Consolidation process underway

The Crypto board continues to be immersed in an emotional leg-breaking, consistently punishing the emotional state of the traders with its continuous changes of direction.

Read more

XAU/USD unstoppable, breaks to fresh 2020 highs, approaching $1650/oz

XAU/USD is trading in an uptrend above its main daily simple moving averages (SMAs) while breaking above a bull channel. Gold is printing fresh 2020 highs hitting $1646.64 per ounce on an intraday basis.  

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info