He EUR/USD rises for the fourth consecutive day. This Tuesday, the pair has advanced 80 pips, rising from the daily low at the end of the Asian session at 1.0704 to a new five-week high at 1.0784 at European noon. At time of writing, the pair is trading around 1.0781, gaining 0.57% on the day.
Risk appetite drives the single currency against the dollar, whose DXY index has fallen in the last hours to around 103.00, its lowest price since last February 14. At the same time, 10-year US Treasury yields hit 3.56%, their highest level since March 17, while S&P 500 Futures rose to 4.0717 points, gaining 0.85%. daily, while the Dow Jones rose 1.20%.
The weak data ZEW of economic sentiment for Germany and the Eurozone, which fell more than expected in March, have not intimidated the euro, which is waiting for new statements from Christine Lagarde in a few minutes. The focus for traders continues to be the Fed meeting to be held between today and tomorrow in the United States and which will culminate this Wednesday with the monetary policy announcement at 18:00 GMT.
EUR/USD Levels
In case of new increases, the first upward barrier will appear in 1.0800/04 (psychological level and maximum of February 14). Above, the main resistance is at 1.0940February 3 ceiling, and level prior to 1.1033 (2023 high recorded on February 2 and highest level since April 2022).
down, 1.0700 is the initial support. A break could lead to the zone 1.0630where the minimum of yesterday March 20 is, before sliding to 1.0516floor of March 15 and lowest level since last January 6.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
