- The euro is about to end the week flat against the US dollar after a strong recovery.
- The US dollar remains under pressure despite rising US yields.
The pair EUR/USD It peaked earlier Friday at 1.2144, the highest level since Tuesday. It then pulled back, finding support at 1.2110, and at time of writing, it is holding at 1.2130, around the same level that it closed last week.
The pair lost strength after facing resistance near 1.2150 and also amid rising US yields that offer some support to the dollar. The 10-year yield reached 1.33%, the highest level in a year.
Higher US yields only modestly propelled the DXY from its lows. The index stands at 90.30, shedding 0.30% and modestly lower for the week, after trading positive for most of the week.
Stock prices on Wall Street are rising. The Dow Jones is up 0.41% and the Nasdaq 0.75%. The risk mode in all markets contributes to the rise in EUR / USD.
EUR / USD confirms bounce from 20-week SMA
From a technical perspective, the EUR / USD is moving with a bullish bias in the very short term. On the daily chart, the pair needs to break out of the 1.2170 area to clear the way for further gains. A pullback below 1.2090 would weaken the euro.
On a weekly basis, the EUR / USD rallied again from the 20-week moving average, suggesting that the 1.2020 level remains solid support. A weekly close below the mentioned level would deteriorate the technical outlook for the euro.
Technical levels
EUR/USD
| Panorama | |
|---|---|
| Today’s Last Price | 1.2136 |
| Today’s Daily Change | 0.0044 |
| Today’s Daily Change% | 0.36 |
| Today’s Daily Opening | 1.2092 |
| Trends | |
|---|---|
| SMA of 20 Daily | 1.2095 |
| SMA of 50 Daily | 1.2155 |
| SMA of 100 Daily | 1.2003 |
| 200 SMA Daily | 1.176 |
| Levels | |
|---|---|
| Daily Preview Maximum | 1.2093 |
| Daily Previous Minimum | 1.2036 |
| Weekly Preview Maximum | 1.215 |
| Weekly Prior Minimum | 1.202 |
| Monthly Previous Maximum | 1.235 |
| Minimum Previous Monthly | 1.2054 |
| Daily Fibonacci 38.2% | 1.2071 |
| Fibonacci Daily 61.8% | 1.2058 |
| Daily Pivot Point S1 | 1.2054 |
| Daily Pivot Point S2 | 1.2016 |
| Daily Pivot Point S3 | 1.1997 |
| Daily Pivot Point R1 | 1.2111 |
| Daily Pivot Point R2 | 1.2131 |
| Daily Pivot Point R3 | 1.2168 |
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