- The dollar remains strong on all fronts of the market.
- EUR / USD remains under pressure, targeting 1.1550 and then 1.1500.
The EUR / USD failed to affirm above 1.1600 and resumed tracks in line with the dominant trend and fell to 1.1568, the lowest level since July last year. The pair remains in the area of lows, under strong downward pressure.
The dollar continues to advance before the expectations of the Federal Reserve and despite the fact that the yields of the Treasury bonds have not marked new highs for the past sessions. The rise in the greenback occurs on all fronts, with the euro and the Swiss franc among the weakest in recent hours.
End of month and quarter flows can add even more volatility to the day. Data from the US will be released, including a second quarter growth reading and the weekly jobless claims report.
Additionally, Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen will speak again before a Congressional committee. The data and the words of the officials could not overshadow the movements that are taking place in the market, unless big surprises arise.
Intact bearish bias
EUR / USD oversold indicators are not yet showing signs of a stabilization or possible rebound. The pair is with a strong bearish tone and the next support appears at 1.1550, followed by 1.1515 and then 1.1500. On the upside, now 1.1585 / 90 (September 29 low) is the first resistance followed by 1.1610. A rise on the latter could ease very short-term pressures.
Technical levels
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