EUR/USD holds steady near 1.1135 amid falling German yields


  • Sell-off in Treasury yields offset the German yields slide amid risk-aversion.
  • Downside remains compelling ahead of German/ US inflation data.  

The EUR/USD pair extends its side trend near 1.1130 region in early trades, unperturbed by the intensifying risk-off moods amid the US-led protectionism and the resulting global growth worries.  

A part of the pair’s resilience can be attributed to the sell-off in the US Treasury yields across the curve, with the benchmark 10-year yields sitting near 20-month lows of 2.170%. The weakness in the Treasury yields drags the US dollar off the two-week tops v. its main peers.

However, the bulls remain cautious and keep the upside attempts restricted, in the wake of the slide in the German 10-year bond yields to near record lows of -0.205% reached July, 6th 2016. Moreover, a sharp drop in the German retail sales also continues to weigh on the shared currency. Germany retail sales drop -2.0% m/m in April vs. +0.1% expected.

The immediate focus now remains on the German preliminary CPI figures that are expected to come in softer. Hence, the upside bias in the spot remains limited ahead of the German Prelim CPI, US Core PCE Price Index and UoM Consumer Sentiment data.

EUR/USD Technical Levels

EUR/USD

Overview
Today last price 1.1134
Today Daily Change 0.0003
Today Daily Change % 0.03
Today daily open 1.1131
 
Trends
Daily SMA20 1.1185
Daily SMA50 1.1215
Daily SMA100 1.1285
Daily SMA200 1.1382
Levels
Previous Daily High 1.1144
Previous Daily Low 1.1116
Previous Weekly High 1.1214
Previous Weekly Low 1.1107
Previous Monthly High 1.1326
Previous Monthly Low 1.1111
Daily Fibonacci 38.2% 1.1127
Daily Fibonacci 61.8% 1.1134
Daily Pivot Point S1 1.1116
Daily Pivot Point S2 1.1102
Daily Pivot Point S3 1.1087
Daily Pivot Point R1 1.1145
Daily Pivot Point R2 1.1159
Daily Pivot Point R3 1.1173

 

 

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