EUR/USD extends losses and eyes 1.1350 on US dollar strength

Greenback jumps across the board late during US session.
A rebound in US yields favored the last run higher of the USD.

Matías Salord FXStreet

The EUR/USD broke to the downside and added to its daily losses. The pair reached a fresh weekly low at 1.1363. It is trading near the bottom, headed to the lowest close since January 24.

The negative tone remains intact as the US dollar gains across the board. It even erased losses versus the yen. The US Dollar Index hit 96.37, a fresh 1-week highs. At the same time, US yields bounced back with the 10-year back to 2.70%. Equity prices in Wall Street are flat. The Dow Jones is up just 0.03% and the Nasdaq losses 0.25%.

The EUR/USD is falling for the third day in a row. Since the beginning of the week lost almost a hundred pips and pulled back 150 pips from last week peak. The rally of the US dollar started after the euro was rejected from above 1.1500.

Now the next strong support is seen around 1.1350. Below that level, the January low at 1.1287 would be exposed. Technical indicators in the daily chart start to point to more losses. The euro needs to rise back above 1.1400 to remove the negative tone.

EUR/USD

Overview:
    Today Last Price: 1.1369
    Today Daily change: -0.0044 pips
    Today Daily change %: -0.39%
    Today Daily Open: 1.1413
Trends:
    Daily SMA20: 1.1423
    Daily SMA50: 1.1401
    Daily SMA100: 1.1437
    Daily SMA200: 1.1554
Levels:
    Previous Daily High: 1.1453
    Previous Daily Low: 1.1401
    Previous Weekly High: 1.1516
    Previous Weekly Low: 1.139
    Previous Monthly High: 1.1586
    Previous Monthly Low: 1.1289
    Daily Fibonacci 38.2%: 1.1421
    Daily Fibonacci 61.8%: 1.1433
    Daily Pivot Point S1: 1.1392
    Daily Pivot Point S2: 1.1371
    Daily Pivot Point S3: 1.1341
    Daily Pivot Point R1: 1.1443
    Daily Pivot Point R2: 1.1473
    Daily Pivot Point R3: 1.1494

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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