The EUR/USD It has lost about 30 pips since the start of the Asian session on Tuesday, falling in the European pre-open to an intraday low of 1.2034 after having opened the day around 1.2060 / 65.
In recent hours, the dollar is regaining ground, with the DXY index rebounding to 91.19, a new daily high, after opening below 91.00 on Tuesday. On the other hand, the yields of the US 10-year bonds continue to be bearish, currently moving over 1.60%.
Market sentiment remains tepid amid cautious comments from the Fed Chairman, Jerome Powell, on the US economy, while the continued rise in covid in India and Japan continues to dampen risk appetite.
Powell said the US economy is improving but “is not out of the woods yet,” speaking to the National Community Reinvestment Coalition conference.
This Tuesday there is no data to be published in Europe and the United States will be limited to the trade balance and factory orders for March.
EUR / USD levels
If it continues to fall, the euro will find initial support at 1.2013, the low of May 3. Further down, the target will be at 1.1993, the April 22 floor, and 1.1942, the April 19 low.
On the upside, the first resistance is at 1.2075 / 75, yesterday’s high. Above the 1.2100 psychological zone, the next barrier appears at 1.2149, April 29 high.
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