- The US dollar falls across the board amid appetite for risk.
- The euro turns positive against the dollar and negative against the pound.
The EUR/USD it rises modestly Wednesday after rebounding from 1.1615. During the American session, the pair has risen to 1.1651, slightly below the daily highs. The euro still unable to break the 1.1650 barrier.
DXY Dollar Index Falls As EUR / USD Rebounds
EUR / USD recovered daily losses amid a falling US dollar in all fields. A feeling of Risk appetite in financial markets weighs on the dollar. The DXY Dollar Index is down 0.15% on the day despite US yields holding monthly highs.
On Wall Street stocks are up. The Dow Jones gains 0.35% and the Nasdaq 0.08%. Crude prices are on the rise, with a WTI rise of 0.60%. Gold earns more than $ 10. Positive corporate results contribute to optimism. Later on Wednesday, the Federal Reserve will publish its Beige Book.
From a technical perspective, the recovery of EUR / USD remains capped by the 1.1650 area. A break to the upside should clear the way for additional gains, exposing Monday’s high of 1.1669. On the other hand, 1.1615 is the daily low, a support area and also the 20-day moving average. A daily close clearly below should weaken the EUR / USD pa.
EUR / USD technical levels
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