EUR / USD extends slide to 1.1800 as USD accelerates its rally

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  • The dollar jumps across the board, the Dow Jones falls more than 1% and US yields are down.
  • EUR / USD hits new daily lows, remains above 1.1800.

The pair EUR/USD it hit a fresh two-day low at 1.1815 and recovered modestly. So far it has not been able to move away from the 1.1830 area; still under pressure from a stronger US dollar.

The dollar rose sharply against most currencies in recent hours amid a drop in US equity prices and despite falling US yields. been the Japanese yen; driven by risk aversion and bond market movement.

On the first normal day of the week, after yesterday’s US holiday, bonds are rising sharply. The 10-year yield fell to 1.35%, the lowest level since February. The Dow Jones is losing almost 1%. Despite lower yields and weaker-than-expected US data, the dollar is holding on to most of its gains.

EUR / USD bias continues to point to the downside. A consolidation below 1.1820 would expose the 1.1800 support. Below the next level is 1.1760. A close around current levels would be the lowest since early April. A recovery above 1.1860 would ease the pressure.

Technical levels

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