The EUR/USD It is regaining ground this Friday after the drop it experienced in yesterday’s American session, when it bottomed out at a four-day lows at 1.1993. The pair settled above 1.2000 today, reaching a daily high at 1.2030 in the European pre-open.
The rise in the single currency is accompanied by a modest decline in the dollar, whose DXY index has fallen to 91.16, the new low of the day, from around 91.30. Yields on 10-year US bonds, meanwhile, are at 1.561% at this time, improving after the fall at the end of yesterday’s session to 1.53%.
Traders expect a new driver in the next few hours. The focus is on the preliminary PMI manufacturing and services data for Germany and the Eurozone for the month of April. Setbacks are expected in both indices, but a positive surprise could trigger a rise in the euro. Later in the day, the United States will also release its PMI data alongside the new home sales for March.
EUR / USD levels
With the pair trading at the time of writing above 1.2028, gaining 0.11% daily, the next upside resistance awaits at 1.2079, April 20 high. Higher up is the psychological level 1.2100, which if exceeded can lead to the 1.2180 / 90 barrier, where there are several highs in February and January.
To the downside, the first support is at 1.2000. Breaking down with consistency, the next target appears at 1.1942, the April 19 bottom, followed by the 1.1900 zone.
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