EUR/USD retreats toward 1.2200 from fresh monthly highs near 1.2230


  • US Dollar gains support from a decline in equity prices and a rebound in yields.
  • EUR/USD modestly off highs, heads for the highest close since February.

The EUR/USD printed a fresh two-month high at 1.2233 and then pulled back. After Wall Street’s opening bell dropped to 1.2205, amid a recovery of the US dollar. The greenback trimmed losses, but it remains under pressure.

The Dow Jones opened with losses, the S&P flat and the Nasdaq in positive territory, all indexes off the high of the pre-market session. US yields bounced to the upside over the last hours. The 10-year yield rose from 1.63% to 1.65%, in a few minutes, reaching the highest since May 14.

Outlook still points to the upside

Higher yields and a deterioration in risk sentiment helped the greenback, that trimmed losses across the board. Despite the correction lower, EUR/USD still heads for the highest close since early January.

As long as it remains above 1.2200, the positive tone will remain intact. A decline under 1.2165 could point to a deeper correction. On the upside, resistance levels might be seen at 1.2230 and 1.2240/45 (February highs).

Technical levels

EUR/USD

Overview
Today last price 1.2207
Today Daily Change 0.0055
Today Daily Change % 0.45
Today daily open 1.2152
 
Trends
Daily SMA20 1.2084
Daily SMA50 1.1964
Daily SMA100 1.2044
Daily SMA200 1.1959
 
Levels
Previous Daily High 1.2169
Previous Daily Low 1.2126
Previous Weekly High 1.2182
Previous Weekly Low 1.2052
Previous Monthly High 1.215
Previous Monthly Low 1.1713
Daily Fibonacci 38.2% 1.2153
Daily Fibonacci 61.8% 1.2142
Daily Pivot Point S1 1.2129
Daily Pivot Point S2 1.2106
Daily Pivot Point S3 1.2087
Daily Pivot Point R1 1.2172
Daily Pivot Point R2 1.2192
Daily Pivot Point R3 1.2215

 

 

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