EUR/USD remains poised for more gains above 1.2160

EUR/USD attempts recovery in the Asian session.
Weaker US dollar lifts demand for the pair.
US JOLTs Job Opening data, Germany ZEW Survey awaited.

Rekha Chauhan Independent Analyst

The buying interest surrounding the single currency keeps the EUR/USD pair buoyed in the Asian session. The pair opened lower on Tuesday morning, now recouping strength towards sessions high at 1.2149, where it waivers now.

The US Dollar Index (DXY), which tracks the movement of the greenback against six major rivals, treads water with little gains, at 90.26. The depreciative move of the US dollar adds strength to the EUR/USD pair.

The disappointing US NFP data still haunts the market. The Federal Reserve (Fed) officials reaffirmed their dovish stance on monetary policy, as the dual mandate of full and exclusive employment along with inflation averaging around 2% is still far from reach.

On the other hand, a pick up in the covid vaccination drive and partial reopening of the economy help in improving the economic forecast for the Old Continent. This optimism aids the single currency to gain some traction.

As for now, investors await the release of the German Wholesale Price Index for April, Germany ZEW Survey. Later on, US JOLTS Job opening data (Mar) and the Fed official’s speeches will be closely watched as well.

EUR/USD Additional Levels

EUR/USD

Overview
Today last price	1.2144
Today Daily Change	0.0015
Today Daily Change %	0.12
Today daily open	1.2129

Trends
Daily SMA20	1.205
Daily SMA50	1.1949
Daily SMA100	1.2047
Daily SMA200	1.1952

Levels
Previous Daily High	1.2178
Previous Daily Low	1.2128
Previous Weekly High	1.2172
Previous Weekly Low	1.1986
Previous Monthly High	1.215
Previous Monthly Low	1.1713
Daily Fibonacci 38.2%	1.2147
Daily Fibonacci 61.8%	1.2159
Daily Pivot Point S1	1.2112
Daily Pivot Point S2	1.2095
Daily Pivot Point S3	1.2061
Daily Pivot Point R1	1.2162
Daily Pivot Point R2	1.2195
Daily Pivot Point R3	1.2213

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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