He EUR/USD has lost 20 pips in the last hour, slipping to new lows of the day at 1.2076 after the sudden strength of the dollar that is moving the main currency pairs. The cross operates at the time of writing on 1.2078, losing 0.40% daily.
The DXY index that measures the greenback has not stopped recovering ground since the three-day lows of the European open at 90.27. In these moments, the dollar has recovered 40 pips, rising to around 90.70, the new high of the day.
With no relevant data published in the United States, all attention is focused on the inauguration of the nation’s new president, Joe Biden, which will take place at 17.00 GMT. The event appears to be causing the current volatility in the markets. Investors’ expectations are on the stimulus package.
On Wall Street the bags are recording profits, with the Dow Jones growing 0.26% to 31,009 points and the S&P 500 advancing 0.74% to 3,826.99 points.
EUR / USD levels
Should it continue to fall, the pair will find initial support at 1.2053, where is the minimum of January 18. Below it expects 1.2000, a level that if broken could trigger a considerable bearish movement.
Al raises, the resistance remains at 1.2158, daily ceiling, followed by 1.2178, ceiling of January 14, and 1.2222, maximum of January 13.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
