- The pair tests new multi-month lows in the mid-1.1700s.
- The US Dollar Index trades closer to the 94.00 milestone.
- US 10-year yields stay in lows around 3.08%.
The downside momentum around the shared currency is gathering further traction today and is dragging EUR/USD to record fresh lows in the mid-1.1700s.
EUR/USD now looks to 1.1718
The pair has been trading in the negative territory for the last five sessions, coming under extra selling pressure following the rejection from Monday’s peaks in the 1.2000 neighbourhood.
On the other side, the sentiment around the buck remains robust, motivating the US Dollar Index (DXY) to advance to fresh tops in the 93.80 region - levels last visited back in December 2017 – in spite of the leg lower in US 10-year yields.
In the meantime, the pair is falling further into the oversold area, as the RSI is hovering over the 25.0 level, all opening the door for a potential visit to the 1.1718 level (low December 2017).
EUR/USD levels to watch
At the moment, the pair is losing 0.28% at 1.1762 and a breakdown of 1.1750 (2018 low May 18) would target 1.1718 (monthly low Dec.12 2017) en route to 1.1553 (monthly low Nov. 7 2017). On the flip side, the next resistance aligns at 1.1867 (10-day sma) seconded by 1.1996 (high May 14) and finally 1.2021 (200-day sma).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks

AUD/USD gains traction after US data, tariff signals
The Australian Dollar gains ground against the US Dollar on Thursday. Despite these gains, the risk-sensitive AUD faces headwinds from fears of a potential global trade war, as United States President Donald Trump announced he will impose reciprocal tariffs on every country that charges duties on US imports.

EUR/USD climbs as sentiment pushes Greenback lower
EUR/USD caught a bid on Thursday, climbing seven-tenths of one percent and vaulting back over the 1.0400 handle. A general weakening in the Greenback bolstered Fiber flows off the back of not-as-bad-as-expected US Producer Price Index inflation figures.

Gold price advances amid uncertainty over US tariff threats
Gold climbed during the North American session on Thursday following the release of the Producer Price Index, which was mildly higher than expected. United States President Donald Trump's threats of tariffs increased the appeal of the yellow metal, which trades around $2,925.

Will Solana and SUI fall behind ETH as Ethereum Foundation deploys $120M DeFi investment?
Ethereum Foundation deployed 45,000 ETH, valued at approximately $120 million, into leading DeFi protocols to reinforce Ethereum’s position as the dominant decentralized finance network.

Tariffs likely to impart a modest stagflationary hit to the economy this year
The economic policies of the Trump administration are starting to take shape. President Trump has already announced the imposition of tariffs on some of America's trading partners, and we assume there will be more levies, which will be matched by foreign retaliation, in the coming quarters.

The Best Brokers of the Year
SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.