The EUR/USD It started the day on Friday reaching an intraday high at 1.1988, very close to the eight-day high at 1.1990 reached at the end of the American session yesterday. The pair has lost more than 75 pips since then, falling to a daily low of 1.1911 on the European morning.
The fall of the pair is correlated with the recovery of the dollar across the forex board. The greenback measured by its DXY index has advanced more than 50 pips today, reaching in the last minutes the 91.95 level, its highest level since Wednesday.
The dollar rises driven by the increase in yields of ten-year US Treasuries, which are currently reaching 1.60%, their highest level since March 8.
On the economic calendar, the Eurozone will release its industrial production data for January, while eyes are on the preliminary University of Michigan consumer sentiment index for March, which is expected to rise to 78.5 from 76.8 in February.
EUR / USD levels
With the pair trading at the time of writing above 1.1915, losing 0.62% on the day, the next support in case of extending the falls will be in the psychological zone. 1.1900. Further down the target is at 1.1868, the bottom of March 10, before falling towards 1.1835, the low of March 9 and the last three and a half months.
Al raises, the initial resistance is at 1.2000. Above, an intermediate barrier is expected in the 1.2060 / 65 region, where the March 4 highs are, before reaching 1.2113, the March 3 ceiling.
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