The EUR/USD It started Friday’s session progressively losing ground, losing more than 20 pips until falling to new lows of one week at 1.2171 in the pre-European opening.
Right now, the pair is trying to take a breather, trading at the time of writing above 1.2194, losing just 0.01% daily.
The dollar remains firm after yesterday’s recovery, with the DXY index measuring the greenback reaching a daily high of 90.16 today, very close to the eight-day high reached yesterday at 90.17. For their part, 10-year US bond yields they maintain the rise started yesterday, standing at around 1.61%.
The operators of the crossing will be very aware of the US data today, as it could cause new movements. The focus will be on core PCE inflation for April, the Fed’s preferred measure. Other data of interest will be the Chicago PMI for May and the University of Michigan Consumer Sentiment.
EUR / USD levels
Should it continue to fall, the pair will find a notable support at 1.2160, floor of May 21. Lower expect 1.2126, the low of May 17, and 1.2051, the lowest level since May 13.
In case of recovering above 1.2200, initial resistance will be at 1.2265 (May 25 high). The next barrier to beat is at 1.2284 (January 8 high). Higher up awaits the barrier 1.2300 and 1.2349, ceiling of January 6 and 2021.
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