• EUR/USD continues to trade on the defensive this Wednesday.
  • The US Dollar remains steady near 94.00 following an uptick in the US T-bond yields.
  • Dismal German data, softer view on inflation cement dovish ECB stance.

EUR/USD remains muted in the Asian session on Wednesday. The pair posted losses for the third straight day. At the time of writing, EUR/USD is trading at 1.1599, up 0.03% for the day.
 
The greenback trades near 94.00, tracking the rebound in the US 10-year benchmark Treasury yields. Investors remained concerned about the policy outlook guidance from upcoming central bank meetings. The dollar remained strong against the euro and the yen on monetary policy divergence.

The shared currency came under pressure after a European Central Bank (ECB) survey showed that the Eurozone banks tightened access to mortgages in the last three months and expected to continue doing so in the final quarter of 2021. The survey came two days before the ECB is set out to assess the economic situation, paving the way for a decision in December on the continuation of the central bank’s bond-buying program. 

In addition to that, the single currency is also weighed down by the signs that the ECB will be among the last to raise rates among major central banks. German data released on Monday showed the deteriorating business morale, which cemented the expectations of a dovish message from Thursday’s ECB meeting.

As for now, traders are waiting for German Gfk Consumer Confidence and US Durable Goods Orders for a fresh trading impetus.

EUR/USD additional levels

EUR/USD

Overview
Today last price 1.1599
Today Daily Change 0.0003
Today Daily Change % 0.03
Today daily open 1.1596
 
Trends
Daily SMA20 1.1596
Daily SMA50 1.1702
Daily SMA100 1.1784
Daily SMA200 1.1913
 
Levels
Previous Daily High 1.1626
Previous Daily Low 1.1585
Previous Weekly High 1.167
Previous Weekly Low 1.1572
Previous Monthly High 1.1909
Previous Monthly Low 1.1563
Daily Fibonacci 38.2% 1.1601
Daily Fibonacci 61.8% 1.161
Daily Pivot Point S1 1.1579
Daily Pivot Point S2 1.1562
Daily Pivot Point S3 1.1538
Daily Pivot Point R1 1.1619
Daily Pivot Point R2 1.1643
Daily Pivot Point R3 1.166

 


 

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