EUR / USD plunges to fresh two-month lows below 1.2000

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The EUR/USD it continues to be strongly pressured down this Thursday. After registering a slight rally at the beginning of the Asian session to 1.2042, the highest of the day, the cross has started to lose ground, falling 50 pips to the new two-month low at 1.1992.

The rise in US bond yields due to hopes of approval of the stimulus plan by the Joe Biden government has strengthened the dollar. The DXY index that measures the greenback has risen to 91.38, a new maximum since December 2, 2020.

Go rEndings of US 10-year bonds reached 1,149% in the early hours of Thursday, its highest level in more than three weeks. At the moment they are moving over 1.37%.

Today traders of the pair will focus on Eurozone retail sales data and weekly US unemployment claims, which will also publish factory orders.

EUR / USD levels

With the euro trading against the dollar above 1.1999 at time of writing, losing 0.28% daily, the next bearish target is 1.1924, floor of December 1, 2020. If it breaks 1.1900, the next support will wait at 1.1885, low of November 26, 2020.

On the upside, the pair presents immediate resistance at 1.2050, February 3 high. Higher up, the barriers are at 1.2100 and 1.2156, the highest level on January 29.

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