EUR / USD extends pullback and approaches 1.1800

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  • EUR / USD erased post employment report earnings and is below 1.1830.
  • In minutes data from the ISM of the services sector, on Wednesday the minutes of the Fed.

The EUR / USD broke the lows of the European session and fell to 1.1822, the lowest level since Friday, and similar to the level it had before the publication of the US employment report. The dollar gained momentum throughout the market.

The greenback continues to recover the ground lost since Friday throughout the market, while Wall Street futures fall, as well as the yields of Treasury bonds. On Tuesday, data from the US services sector will be released and on Wednesday it will be the turn of the Federal Reserve minutes.

The DXY rises 0.25% and is close to 92.50, while at the same time the 10-year Treasury rate fell below 1.40%, for the first time since June 21. This latest movement may be putting a limit on the appreciation of the dollar.

From a technical point of view, the EUR / USD made a sharp reversal on Tuesday. Hours ago it peaked in six days at 1.1895, before changing direction. It is now trading just below 1.1830, under pressure and looking askance at the 1.1800 / 05 zone, where it was at last week’s bottom.

Technical levels

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