- The euro remains under pressure against the US dollar, DXY is targeting 92.00.
- The dollar extends gains even amid declining US yields.
After a brief pause in consolidation, the pair EUR/USD It resumed the slide and broke below 1,900, falling to 1.1890, the new two-month low. The pair has now dropped nearly three hundred pips from the level it had a week ago.
USD, the shining star no matter what
The US dollar made new highs against most G10 currencies. In that group, the yen is the best on Thursday, but the dollar is still the best for the week.
The new high for the US dollar came even as US yields fell sharply. The 10-year yield is falling more than 6.35%, now below 1.48%, and even below the level it was before the release of the FOMC statement that triggered the dollar rally.
Stock prices are mostly lower in the US The Dow Jones is down 0.93%, the S&P 500 is down 0.38% while the Nasdaq is up 0.38%. Caution still prevails among investors driving demand for the US dollar.
The EUR / USD pair is on its way to the lowest daily close since April 7, the first below the 200-day moving average in two months. Despite oversold readings on technical indicators, momentum remains sharply negative, with negative tone intact. On the downside, the next support could be seen around 1.1870 / 75.
Technical levels
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