EUR/USD hits fresh lows but remains above 1.0800


  • Euro holds a bearish bias against the US dollar, remains above 1.0800.
  • Greenback gains across the board as US yields move higher.

The EUR/USD pair dropped further and printed a fresh daily low at 1.0801. It rebounded modestly and is hovering around 1.0810, down 25 pips for the day, on a quiet day in financial markets.

US strength, EUR/CHF nearing 1.0500

A stronger US dollar pushed the EUR/USD to the downside. The DXY is up 0.45% on the day back above 100.00, boosted probably by higher US yields. The 10-year rose to 0.72%, the highest since April 6. Equity prices in Wall Street area mixed and safe-havens yen and gold are weaker. Expectations about negative rates in the US eased after comments from different Fed officials.

Despite falling versus the US dollar, the euro is rising against the pound. EUR/GBP tested the 0.8800 area earlier on Monday. Something worst watching is EUR/CHF as it approaches 1.0500, the level market analysts consider the Swiss National Bank is defending. The cross trades at 1.0514, the lowest in two weeks.

Technical outlook

The EUR/USD holds a short-term negative bias and a break under 1.0800 would expose the next support at 1.0780 that protects last week low at 1.0765. On the upside, the critical resistance is seen at 1.0850. A consolidation above this last one should clear the way to more gains for the euro.

EUR/USD

EUR/USD

Overview
Today last price 0
Today Daily Change -1.0840
Today Daily Change % -100.00
Today daily open 1.084
 
Trends
Daily SMA20 1.0867
Daily SMA50 1.0955
Daily SMA100 1.0993
Daily SMA200 1.1029
 
Levels
Previous Daily High 1.0876
Previous Daily Low 1.0815
Previous Weekly High 1.0981
Previous Weekly Low 1.0767
Previous Monthly High 1.1039
Previous Monthly Low 1.0727
Daily Fibonacci 38.2% 1.0853
Daily Fibonacci 61.8% 1.0838
Daily Pivot Point S1 1.0811
Daily Pivot Point S2 1.0783
Daily Pivot Point S3 1.0751
Daily Pivot Point R1 1.0872
Daily Pivot Point R2 1.0904
Daily Pivot Point R3 1.0932

 

 

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