EUR / USD surpasses 1.1930 reaching a three-week high.

9

Get real time updates directly on you device, subscribe now.

  • The euro gains momentum in the market and pushes the EUR / USD to the highest since March 23.
  • The dollar falls after inflation data and vaccination news in the US.

EUR / USD rose to 1.1936 after the US inflation figures for March were known, which were above expectations. The greenback is pulling back in the market on Tuesday, with DXY below 92.00, also at a three-week lows.

The consumer price index rose to 2.6% (annually), the highest level since 2018. The figure beat expectations and triggered a drop in Treasury bond yields, pushing the dollar lower.

The other novelty of the day was the request of US government authorities to pause vaccination with the Johnson & Johnson inoculant to carry out research on its safety. This generated a fall in the bags.

The EUR / GBP rally, helped by a sudden drop in the British pound, was another factor that gave the EUR / USD a boost. From a technical point of view, the common currency is in a resistance zone that, if left behind, could lead to a test at 1.1985 / 90, where the highs of mid-March are. Now 1.1915 / 20 looms as the first support, below which 1.1860 will follow.

Technical levels

.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.