- The dollar continues to weaken and the data did not help.
- EUR / USD is heading for the third consecutive rise.
The EUR / USD broke above 1.1950 and rose to 1.1970 reaching the highest level since last Thursday. The euro remains in a favorable tone, near the highs, on its way to the third daily gain in a row.
The dollar prolonged the bad moment after the preliminary PMI report for June was released, which showed a sharp decline in the services PMI, although it was overshadowed by an unexpected rise in the manufacturing sector.
The Treasury bond market remains relatively calm, as is the equity market, playing in favor of the continuation of the dollar’s decline. The DXY is at a nearly week-long lows near 91.50.
Levels to take into account in the short term
In case of extending the bullish run the next resistance is seen at 1.1985, before the 1,2000 zone; Above the strong level is seen at 1.2050. In the opposite direction, 1.1945 is now seen as the first support level, then followed by 1.1920 and 1.1880.
Additional levels
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