• Greenback gains momentum amid risk version but lower US yields limit upside.
  • EUR/USD heads for a modest weekly loss, without reaching fresh YTD lows.

The EUR/USD weakened during the American session and fell to 1.1266, reaching the lowest level since Tuesday. It then rebounded toward 1.1300 trimming losses. The decline took place amid a rally of the US dollar across the board, but the decline in US yields limited the upside of the greenback.

US economic data and Fed’s monetary policy expectations boosted the greenback on Friday. The US Employment report showed mixed data and later, service sector numbers (ISM And PMI) came in above expectations.

“The FOMC will clearly be discussing a faster taper at its upcoming December 15 meeting, but this morning's payroll number and lighter read on average hourly earnings growth gives the Committee an out to perhaps punt to its January meeting”, mentioned analysts at Wells Fargo.

The EUR/USD is about to end the week with a modest decline. The positive for the euro is that it did not reach new YTD lows for the first time after four weeks in arrow. Price continues to consolidate around 1.1300, still in a downtrend but showing signs of consolidation in the short-term.

Technical levels

EUR/USD

Overview
Today last price 1.129
Today Daily Change -0.0008
Today Daily Change % -0.07
Today daily open 1.1298
 
Trends
Daily SMA20 1.1362
Daily SMA50 1.1509
Daily SMA100 1.1648
Daily SMA200 1.1821
 
Levels
Previous Daily High 1.1348
Previous Daily Low 1.1295
Previous Weekly High 1.1324
Previous Weekly Low 1.1186
Previous Monthly High 1.1616
Previous Monthly Low 1.1186
Daily Fibonacci 38.2% 1.1315
Daily Fibonacci 61.8% 1.1328
Daily Pivot Point S1 1.128
Daily Pivot Point S2 1.1262
Daily Pivot Point S3 1.1228
Daily Pivot Point R1 1.1332
Daily Pivot Point R2 1.1366
Daily Pivot Point R3 1.1385

 

 

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