- EUR / USD in neutral territory for the day, debating between 1.2000 and a downward correction.
- The dollar is not favored by economic data.
The EUR / USD fell to 1.1955 at the time of the release of US economic data.. positive, but then bounced back to the 1.1975 zone, where it is trading, around the same level where it closed on Wednesday.
Data for the US showed figures that were above expectations, especially for retail sales and initial jobless claims. The dollar rose only modestly and for a few minutes. Even Treasury yields reacted with a drop.
The 10-year US bond rate is at 1.58%, a new low in weeks. This fall is driven to the yen in the market and also to metals. On Wall Street, stocks are on the rise, with major indices hitting new highs. The Dow Jones climbs 0.60%, underpinned by the latest economic data.
From a technical point of view, the EUR / USD is torn between a correction and the possibility of breaking 1.1990 / 1.2000, which is a strong barrier. The dollar is trading in range against the major currencies. In case of consolidating above 1.2000, the immediate objective appears at 1.2030. In the opposite direction, at 1.1940 / 50, a key support can be seen which, if yielding, would trigger an extension of the downward correction.
Technical levels
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