He EUR/USD In the early hours of the Asian session, it reached its highest level since last January 14, reaching 1.2177. However, in the European pre-open, the pair has begun to lose ground, sliding to 1.2154, the new daily low.
A sudden strength in the dollar is behind the pullback. The DXY index that measures the greenback has risen about 20 pips to 90.25, a daily high.
The fears about the advance of the coronavirus in the United States and Europe and the slowness of the vaccination process seems to be behind some aversion to risk that favors the dollar as a safe haven against other riskier assets.
The Asian stocks have closed at a loss in the face of the market’s change of mood, with Hong Kong’s HSI falling 1.41% and Tokyo’s Nikkei 225 losing 0.44%.
In the next few hours, operators will be very aware of the virus figures and the PMI data for manufacturing and services published by the Eurozone, Germany and the United States.
EUR / USD levels
With the pair trading at time of writing above 1.2156, shedding 0.10% on the day, a larger pullback could find support in the 1.2100 zone before extending to 1.2076, the floor of January 20.
To the upside, immediate resistance appears at 1.2177, today’s high. Higher up the target is 1.2222, the ceiling on January 13. If exceeded, the next barrier will appear at 1.2284, the highest level on January 8.
.
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.
