- Euro falls against the dollar and the euro on Monday.
- EUR / USD with strong support at 1.1900 / 10.
EUR / USD is trading in negative territory on Monday, around 1.1925 / 30. The price in the Asian session had climbed to 1.1966 but then changed direction and fell back to find support above 1.1915. The setback came despite a decline in Treasury yields and a rise in Wall Street futures.
DXY with slight rise
The dollar index It is up 0.11%, and is trading at 91.78. This is the second consecutive rise for the index, although it remains below the highs of Friday, when it advanced strongly driven by the advance in the yields of the Treasuries.
On Monday the 10-year rate is at 1.609%, close to the low of the day. The bond market continues to be in the sights of traders, ahead of the meeting of the Federal Reserve Wednesday, which will be the key event of the week. Monday’s data will be the Manufacturing Empire report, with data on manufacturing activity in the New York region.
Short-term technical outlook
EUR / USD continues to trade sideways from Friday’s Asian session between 1.1905 and 1.1960. In the event of a firm break above 1.1960, the next target is at 1.1980, and then the focus will shift to the 1.2000 area.
In the very short term, the bias is bearish, but in order to enable a further decline, it must break the 1.1910 / 1.1900 support. The immediate target below is at 1.1875 / 80. This bearish bias will change if there is a rally above 1.1945.
Technical levels
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