The EUR/USD It started on Tuesday losing momentum after the recovery that took place on Monday. The pair has lost about 25 pips so far this day, falling to a daily low at 1.1595.
The decline in the common currency is determined by the momentum of the dollar, whose DXY index rises at this time to 94.01, the new daily maximum. Yields on 10-year US Treasuries are hovering around 1.49%.
The feeling of aversion Risk weighs on the market, favoring the dollar. Investors are uneasy about a number of issues, including Evergrande and the US debt ceiling. President Joe Biden He said late Monday that the federal government could break its $ 28.4 trillion debt limit in a historic default unless Republicans join Democrats in voting to raise it in the next two weeks. The main Asian stock markets show declines at this time, with the Nikkei 225 in Tokyo losing 2.31% and the FTSE China 50 in Hong Kong losing 2.67%.
Tuesday’s economic calendar brings data that could move the market, such as the German and Eurozone services PMIs and the US services ISM.
EUR / USD Levels
With the pair trading at the time of writing above 1.1595, shedding 0.22% daily, the next support appears at 1.1562, minimum of September 30 and so far this year. A break of this level could originate a succession of lows such as those registered in July 2020, which cover the area between 1.1540 and 1.1184.
To the upside, the first notable resistance is at 1.1640, yesterday’s high. Above, the target appears at 1.1690, the top of September 29, and subsequently at 1.1725, the highest level of September 27.
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