1.135
Today
-0.20%
5 Days
-1.02%
1 Month
-2.03%
6 Months
-1.38%
Year to Date
-3.39%
1 Year
-2.98%
Opening Price
1.136Previous Closing Price
1.137
The downside prevails as long as 1.1363 is resistance, with 1.1321 and 1.1310 as targets
above 1.1363, look for 1.1381 and 1.1392.
The downside prevails as long as 1.1363 is resistance, with 1.1321 and 1.1310 as targets
The Euro (EUR) keeps heading lower on Tuesday as a mix of high US Treasury yields, strong US macroeconomic data, and hopes of further Federal Reserve (Fed) rate hikes underpins speculative support for the US Dollar.
Francesco Pesole at ING says EUR/USD downside risks have increased after dovish comments from European Central Bank (ECB) President Christine Lagarde, which widened SOFR-ESTR spreads and tempered expectations for an October ECB hike.
The EUR/USD pair trades in negative territory around 1.1360 during the early European session on Tuesday. The Euro (EUR) weakens to its lowest since July 28 against the US Dollar (USD), pressured by surging US Treasury bond yields and hawkish signals from the Federal Reserve (Fed) officials.
The EUR/USD pair is seen consolidating around the 1.1365-1.1370 region during the Asian session on Tuesday and trading near its lowest level since July 28, touched the previous day.
Traders betting on a faster European Central Bank (ECB) got pushback from ECB President Lagarde on Monday, and EUR/USD fell back to its late-July low near 1.1350. The pair closed just above 1.1350, three sessions after it broke below 1.1400.
EUR/USD trades on the back foot on Monday, pressured by a stronger US Dollar (USD) as the US-Iran stalemate keeps Oil prices elevated, pushing US Treasury yields higher and strengthening expectations of further Federal Reserve (Fed) rate hikes.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
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