The dollar continues to fall late on Friday and extends its weekly losses

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  • The dollar continues to weaken and values ​​rise on Wall Street.
  • Crude Oil prices rise more than 2%, Gold breaks above $1,850.
  • US bonds extend their rally ahead of NFP week.

The U.S. dollar continued to fall late on Friday, while the pair EUR/USD it hit yearly highs above 1.0630 and GBP/USD soared above 1.2000. Risk appetite and the rally in Treasuries weighed on the dollar.

The dollar adds weekly losses in the American session

The DXY broke below the European session lows late on Friday and fell below 104.50 as Wall Street stocks continued to rise. The Dow Jones was up more than 1% and the Nasdaq was up almost 2%.

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In a low liquidity environment, risk appetite pushed the dollar further lower. Following a positive February, the dollar posted its first weekly loss in a month, despite US yields holding close to monthly highs and upbeat US economic data.

The pound gained momentum and the GBP/USD pair approached 1.2050. EUR/GBP pared weekly losses and fell below 0.8830. The EUR/USD pair rose above 1.0630, while the USD/JPY pair fell to two-day lows below 135.80. Emerging market currencies also appreciated during the American session on Friday. USD/MXN fell further below 18.00, to test 2018 lows.

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Gold broke above $1,850, reaching its highest level in two weeks. Silver rose to $21.25, the strongest level since February 24. US yields fell further, with the 10-year at 3.96%.

DXY Technical Levels

Spot Dollar Index

Last price today 104.5
Today Daily Variation -0.48
today’s daily variation -0.46
today’s daily opening 104.98
daily SMA20 104
daily SMA50 103.37
daily SMA100 105.01
daily SMA200 106.82
previous daily high 105.18
previous daily low 104.34
Previous Weekly High 105.32
previous weekly low 103.76
Previous Monthly High 105.36
Previous monthly minimum 100.81
Fibonacci daily 38.2 104.86
Fibonacci 61.8% daily 104.66
Daily Pivot Point S1 104.49
Daily Pivot Point S2 103.99
Daily Pivot Point S3 103.65
Daily Pivot Point R1 105.33
Daily Pivot Point R2 105.68
Daily Pivot Point R3 106.17

Source: Fx Street

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