He EUR/USD it remained in the early part of Tuesday trading sideways around 1.2150. After testing an intraday low at 1.2137 in the US pre-open, the pair started to regain ground to reach new daily highs around 1.2200.
The crossing has recovered about 70 pips from the daily minimum zone, reaching a intraday high at 1.2206. At time of writing, the euro is trading against the dollar above 1.2200, gaining 0.38% daily.
The rise of the euro coincides with the decline of the dollar, whose DXY index just fell to 90.07, its lowest level since Friday. Right now, the greenback is moving around 90.11, losing 0.48% daily. The fall is associated with the decline in the last hours of the 10-year US Treasury yields, which have fallen in the American session from 1.18% to 1.13%.
On the other hand, several members of the Fed have spoken this afternoon. Raphael Bostic, Chairman of the Atlanta Federal Reserve, has commented that guaranteed income for American citizens is not far-fetched, while Loretta Mester, President of the Cleveland Fed, has indicated that they are quite far from a change in the stance of monetary policy.
EUR / USD levels
If the euro manages to hold firmly above 1.2200, the Next bullish target is at 1.2227, Jan 11 high, en route to 1.2284 resistance, ceiling of January 8. Higher up expects 1.2349, a maximum of January 6 and the highest level reached since April 2018.
On the downside, the first support is at 1.2132, the low of January 11, followed by the zone 1.2120/25, where the minimums of December 14, 15 and 16 are concentrated. If it breaks below, the fall may extend to 1.2058, the December 9 floor.
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