The EUR/USD continues to rise for the second day in a row this week. The pair has advanced more than 30 pips in the last hours, rising to new seven-week highs at 1.2071.
The rise of the euro is supported by the sharp fall of the dollar on all fronts. The DXY index that measures the greenback dropped today to 90.88, its lowest level since March 3. Yields on US 10-year bonds, however, have rebounded in recent minutes, reaching 1,617%, their highest percentage since April 15.
Germany has just released its March Producer Price Index, showing a 0.9% monthly rise, above 0.7% previously and 0.6% expected. At a year-on-year level, the indicator has grown by 3.7%, surpassing the 1.9% in February and the estimated 3.3%.
Later in the day the focus will be on the ECB’s Bank Loan Survey, and in the absence of US data, the focus will be on news about the infrastructure plan that President Joe Biden intends to approve, and news about the virus. in the US and Europe.
EUR / USD levels
With the pair trading at the time of writing above 1.2057, gaining 0.16% daily, the next Upward target appears in the psychological zone 1.2100. Higher up, initial resistance is at 1.2113, March 3 high. Above, the key barrier is 1.2243, the ceiling of February 25 and the last three months.
On the downside, the first support is at 1.2015, the low of the American session yesterday. Below 1.2000 there is room to fall towards 1.1942, the April 19 floor.
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