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EUR / USD Continues to Fall, Marking Lows in One Week and Approaching 1.2100

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  • The dollar remains firm on Friday after the start of the American session.
  • Slight rebound in Treasury yields helps the dollar.

The EUR / USD extended the decline and reached 1.2121, marking a new low for the day. The price remains in the area of ​​the lowest prices of the day, with a downward bias, in a day where the dollar is gaining ground on all fronts.

After the start of the American session, the dollar continued its upward trend, with the euro being one of the most affected currencies. The EUR / USD pullback outpaced Thursday’s rally following US inflation figures.

In the US now the focus is shifting to what will be the Federal Reserve meeting next week. Consumer confidence data from the University of Michigan will be released later on Friday, which is not expected to have much of an impact.

From a technical point of view, the break of EUR / USD from the 1.2150 zone added more weakness to the pair. The next strong resistance zone is around 1.2100 and below at 1.2070. On the upside, now 1.2150 is the first resistance to consider followed by 1.2175.

Technical levels

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