- Euro under pressure falls against the dollar and its European rivals.
- The DXY is trading sideways below 93.00.
EUR / USD failed to return above 1.1800, after approaching that level in the Asian and European sessions. It then lost steam and fell to 1.1762, just one pip above this year’s low. The pair’s decline came as the euro accelerated its decline against the pound.
The dollar shows mixed results in the market. The DXY is trading sideways with a slight rise, in the 92.85 area. The Treasury yields fall modestly.
Between the crossovers of the forex market there are no big changes. One of the crosses that moves the most is surprisingly EUR / GBP trading at 0.8505, the lowest level since February 2020. This drop is one of the downward pull factors for EUR / USD.
Wall Street futures point to a negative open. The optimism for the possible early reopening of the Suez Canal, collides with the blow that the actions of the banks are suffering. Credit Suisse and Nomura warned of significant losses. Regarding data, the day is calm with the Dallas Fed manufacturing report and a speech by the Fed governor, Christopher Waller, standing out.
From a technical point of view, EUR / USD is managing to stay above 1.1760, which has become the key short-term support. A break below would expose 1.1750 and already a confirmation at lower levels would point to lower. To the upside, the first resistance looms at 1.1800 and then 1.1835.
Technical levels
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