- EUR/USD bullish momentum falters near 0.9875.
- The dollar regains some composure despite lower yields in the US.
- Germany’s ZEW Economic Sentiment and fears in the Eurozone are the next topics to be discussed.
The EUR/USD has reached in the European morning a twelve-day high at 0.9873, but has subsequently fallen towards the 0.9830 zone. At time of writing, the pair regains some ground and trades above 0.9855, gaining 0.17% daily.
EUR/USD focuses on data and USD dynamics
EUR/USD looks to continue an auspicious start to the week on the back of dollar price action, all against a backdrop of persevering appetite for riskier assets.
The price action around the pair is accompanied by a rally in German 10y yields, always amid broader consolidation above the 2.30% level.
On the national calendar, the focus will be on Economic Sentiment in both Germany and the Eurozone in general, followed by the ZEW institute for the current month. Across the pond, Industrial Production and the NAHB index will be released, as well as the FOMC’s Neel Kashkari speech.
EUR/USD Levels
Next resistance at 0.9873 (weekly high Oct 18), followed by 0.9999 (monthly maximum of October 4) and, finally, 1.0050 (weekly maximum of September 20).
On the other hand, a break of 0.9631 (monthly low of October 13) would aim to 0.9535 (Sep 28 2022 low) on track to 0.9411 (June 17 2002 weekly low).
Source: Fx Street
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