The EUR/USD has lost 25 pips in the last two hours, slipping to new Six-day lows at 1.1533. Previously, the pair had reached an intraday high at 1.1570 during the European open.
The risk aversion It is dominating the markets again, favoring the US dollar, whose DXY index recently jumped to 94.51, its highest level since September 28, 2020, just over a year ago. Meanwhile, 10-year US bond yields have moderated to 1.59% from 1.61% this morning. The Stock markets show widespread declines, with the German DAX losing 0.47% and the Eurostoxx 50 down 0.61%. In the United States, the Dow Jones lost 0.24% and the S&P 500 lost 0.10%.
In Europe, the ZEW economic sentiment data for Germany and the Eurozone for October did not help the euro, as they showed greater-than-expected setbacks, reaching their lowest since March 2020. In the US, the NFIB business confidence for September it is down one point to 99.1 from 100.1.
Pending comments from Fed members this afternoon and US inflation data on Wednesday, the pair is trading above 1.1536, losing 0.13% daily.
EUR / USD Levels
A break below 1.1529 (2021 low recorded on October 6) would go to 1.1500 (round level) en route to 1.1495 (March 9, 2020 high).
On the upside, the euro faces the first resistance in 1.1586, ceiling of October 8 and 11. Higher wait 1.1640 (October weekly high) followed by 1.1664 (20-day SMA). Above the resistance awaits 1.1755 (weekly high on September 22).
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