- 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).
|Today last price||1.2207|
|Today Daily Change||0.0055|
|Today Daily Change %||0.45|
|Today daily open||1.2152|
|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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