EUR/USD prints fresh highs at 1.1361 and losses momentum amid risk aversion

US dollar is mostly higher across the board on the back of risk aversion.
Euro gains support from the rally against the pound.
EUR/USD heads for weekly loss and still remains in the previous range.

Matías Salord FXStreet

The EUR/USD is rising on Friday, and after the beginning of the American session, it peaked at 1.1361 and then pulled back. The US dollar is posting mixed results across the board, ahead of the weekend.

The upside lost momentum amid risk aversion. Equity prices in Wall Street are falling again, with the Dow Jones losing 0.42% and the Nasdaq 1.52%. The negative tone is boosting Treasuries. The 10-year yield stands at 1.74%, while the 30-year 2.06%, both a one-week lows.

The US dollar benefits from negative sentiment. The upside finds some limit amid lower US yields. The predominant tone is the risk aversion so far.

The euro is showing strength in the market and with the Swiss franc and the yen is among the top performers. The EUR/GBP pair is rebounding sharply from two-year lows, and it trades at 0.8375, having the best day in months, and offers support to EUR/USD. Recent release data showed the Eurozone Consumer Confidence index declined from -8.4 to -8.5 in January.

Despite Friday’s gains, EUR/USD is about to end the week lower. It still remains under the 20-week simple moving average that stands at 1.1480. Next week, the key event will be the FOMC meeting. The Fed is expected to open the doors to a March rate hike.

The EUR/USD is back into the previous consolidation range of 1.1370/1.1220. If it manages to rise back above 1.1370 the outlook would improve. On the downside, a break under 1.1300 should clear the way to more losses and to a test of 1.1270.

Technical levels

EUR/USD

Overview
Today last price	1.135
Today Daily Change	0.0046
Today Daily Change %	0.41
Today daily open	1.1304

Trends
Daily SMA20	1.1347
Daily SMA50	1.1319
Daily SMA100	1.1487
Daily SMA200	1.1719

Levels
Previous Daily High	1.1369
Previous Daily Low	1.1303
Previous Weekly High	1.1483
Previous Weekly Low	1.1285
Previous Monthly High	1.1386
Previous Monthly Low	1.1222
Daily Fibonacci 38.2%	1.1328
Daily Fibonacci 61.8%	1.1344
Daily Pivot Point S1	1.1282
Daily Pivot Point S2	1.1259
Daily Pivot Point S3	1.1216
Daily Pivot Point R1	1.1348
Daily Pivot Point R2	1.1391
Daily Pivot Point R3	1.1414

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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