- Euro is still under pressure against the dollar, it loses more than 200 pips in one day.
- EUR / USD is still approaching 1.1900, it is at the lows since mid-April.
The EUR / USD remains under pressure, finding neither support nor in the data below expectations from the US, nor in a drop in Treasury yields. The pair just hit two-month lows at 1.1920 and is still looking for support.
The dollar is holding on to gains and the EUR / USD is on track to lose more than 200 pips in less than 24 hours. The drop brought the price even below the 200-day moving average.
US data
As the market continues to analyze the implications of the Federal Reserve meeting on Wednesday, there was an unexpected rise in the initial requests for unemployment benefits and a fall in the Philly Fed.
The data did not hold back the dollar, which remained in positive territory against most of its rivals, excluding the yen. The Japanese currency is also favored by investors’ certain caution in the face of recent movements.
Technical levels
.
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.
