- The EUR / USD continues with dominance of lateral movements, without moving away from 1.1300.
- The dollar, with everything mixed on Tuesday, regained strength in the last hour.
- Equity markets rebound.
The EUR / USD is trading around 1.1280, virtually unchanged for the day after failing to firmly return above 1.1300. In the last hour, the dollar recovered strength against its main rivals, although it is still in negative territory for the day, in part due to the rise in equity markets.
Treasury yields are rising Tuesday, limiting dollar weakness for the time being. Without data ahead of impact on the day, the placement of 20-year debt in the US stands out. What happened on Wall Street and with the bonds will be key.
Short-term outlook
The EUR / USD is moving sideways, unable to assert itself above 1.1300 and with support at the 1.1270 area. In turn, the pair is within a larger range, between 1.1350 and 1.1250.
In the very short term, the support to watch is at 1.1270 and the break of that level would point to lower. While a return above 1.1285 could give the euro strength again, it could retest the 1.1300 / 05 zone. A confirmation over 1.1305, would leave the euro strengthened, for more rises. Resistance to break out of the lateral range is at 1.1350 / 60; should it occur, an upward extension would be expected.
Technical levels
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