- The dollar corrected lower on Friday, while the euro advanced on other fronts.
- EUR / USD cuts weekly losses, still below 1.1800.
The EUR / USD extended the recovery in the European session and climbed to 1.1787, reaching a new high of the rebound from the 1.1750 zone, which contained the declines on Thursday. The rebound has lost steam as the corrective weakness of the dollar shows signs of possible exhaustion.
The dollar is trading unchanged from Thursday’s close to other rivals. The DXY gives 0.05%, and operates at 92.80, after having approached 93.00. Treasury yields are sideways, near Thursday’s highs. The 10-year rate is 1.34%.
The economic calendar presents as the only relevant report ahead of consumer confidence from the University of Michigan, with preliminary reading for September, which is expected to show an advance from 70.3 to 72.2. The final inflation reading for August was released in the Eurozone, which showed no surprises.
Strong barrier at 1.1750
EUR / USD’s 1.1750 zone contained the lows on Thursday and is the key support. The break of this level could generate a bearish acceleration, which enables a fall towards 1.1700. In the opposite direction, above 1.1780, the next resistance is 1.1800.
Technical levels
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