The EUR/USD Tuesday’s trading started around 1.2085. Subsequently it has been slowly giving ground until it fell to the intraday low 1.2065, from where it has tried to bounce and then retest this level as support.
The decline in the euro coincides with a rebound in the dollar. The DXY index that measures the greenback is now trading above 90.95, gaining 0.14% daily. For their part, US 10-year bond yields are rebounding to 1.58%, their highest level since the opening of the American session yesterday.
Traders await the announcement of the monetary policy of the United States Federal Reserve to take positions. Meanwhile, US consumer confidence data for April, the Richmond Fed manufacturing index for the same month, and February home prices will be released today.
EUR / USD levels
With the pair trading above 1.2065 at time of writing, shedding 0.17% on the day, the next major support appears at 1.2000 zone. Below that, the target will be 1.1942, the April 19 low.
On the upside, immediate resistance appears at 1.2100. Just above expect 1.2116, April 26 high. In case of breaking above, the rise could reach the 1.2180 / 85 zone, where there are several highs from the end of February and the beginning of March.
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