- US dollar tumbles across the board amid risk appetite.
- Euro turns positive versus the dollar and negative against the pound.
The EUR/USD is rising modestly on Wednesday after making a rebound from 1.1615. During the American session, the pair climbed to 1.1651, slightly below the daily highs. The euro remains unable to break the 1.1650 barrier.
DXY drops as EUR/USD rebounds
The EUR/USD erased daily losses amid a decline of the greenback across the board. A risk-on mood across financial markets weighs on the dollar. The DXY is falling by 0.15% even as US yields hold around monthly highs.
On Wall Street stocks are rising. The Dow Jones gains 0.35% and the Nasdaq 0.08%. Crude oil prices are up, with WTI rising 0.60%. Gold gains more than 10$. Positive corporate results contribute to optimism. Later on Wednesday, the Federal Reserve will release the Beige Book.
From a technical perspective, the recovery of EUR/USD remains capped by the 1.1650 area. A break higher should clear the way to more gains, exposing Monday’s high of 1.1669. On the flip side, 1.1615 is the daily low, a support area and also the 20-day moving average. A daily close clearly below should weaken the euro.
|Today last price||1.1646|
|Today Daily Change||0.0012|
|Today Daily Change %||0.10|
|Today daily open||1.1634|
|Previous Daily High||1.167|
|Previous Daily Low||1.1608|
|Previous Weekly High||1.1624|
|Previous Weekly Low||1.1524|
|Previous Monthly High||1.1909|
|Previous Monthly Low||1.1563|
|Daily Fibonacci 38.2%||1.1646|
|Daily Fibonacci 61.8%||1.1632|
|Daily Pivot Point S1||1.1605|
|Daily Pivot Point S2||1.1576|
|Daily Pivot Point S3||1.1544|
|Daily Pivot Point R1||1.1666|
|Daily Pivot Point R2||1.1698|
|Daily Pivot Point R3||1.1727|
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