- The dollar retreats in the market on Monday, with yields falling.
- EUR / USD extends the rally that started on Friday.
The EUR / USD surpassed 1.2150 and climbed to 1.2166, reaching the highest level since May 11. The price remains near the highs with the intraday bullish tone intact, supported by a fall in the dollar against the main European currencies.
The dollar is being affected by a rise in the spread between Treasuries and German securities, leading it to show weak against the euro, the pound, and the yen. The greenback remains firm against emerging markets and those linked to commodities. Wall Street futures point to a negative opening with falls in the order of 0.35% in the main indices.
The economic calendar shows as relevant data for Monday, the Empire manufacturing index, which is expected to show a decline in May compared to April and then the data from the NAHB (real estate market index). In addition, several officials from the Federal Reserve will speak: Clarida, Bostic and Kaplan.
Approaching the recent high
The climb that began on Thursday EUR / USD brought the pair closer to last week’s high, which hovers around 1.2170 / 80. The break of this band would expose the level of 1.2200.
To the downside, the first support now appears at 1.2145, and below it will follow the low of the day at 1.2125 and then 1.2090.
Technical levels
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