EUR/USD moves to session tops

13 April, 2018

The softer tone around the greenback is now helping the pair’s upside. DXY resumed the downside and is now testing lows near 89.70. US JOLTs Job Openings, Consumer Sentiment next of relevance.

The now renewed selling bias around the greenback is helping EUR/USD to regain the area of session tops in the 1.2340/50 band.

EUR/USD focused on risk trends, US data

The pair is now advancing further to fresh daily highs, extending at the same time the rebound from yesterday’s lows in the 1.2300 neighbourhood backed by a wave of selling impetus around the buck.

The down move in the greenback cames along a drop in yields of the key US 10-year note from daily highs in the boundaries of the 2.84% area.

In the data space, German and Spanish inflation figures for the month of March matched their preliminary readings, while EMU’s Trade Balance figures are coming up next.

Across the pond, JOLTs Job Openings for the month of February are due next seconded by the advanced reading of the U-Mich Index.

In addition, Boston Fed E.Rosengren (2019 voter, centrist), St. Louis Fed J.Bullard (2019 voter, dovish) and Dallas Fed R.Kaplan (non-voter, hawkish) are all due to speak later in the day.

EUR/USD levels to watch

At the moment, the pair is gaining 0.06% at 1.2335 facing the next hurdle at 1.2397 (high Apr.11) followed by 1.2478 (high Mar.27) and then 1.2538 (high Jan.25). On the downside, a breakdown of 1.2300 (low Apr.12) would open the door to 1.2214 (low Apr.6) and finally 1.2153 (low Mar.1).

Source   Presented by HYCM
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