FXStreet – After trading in a narrow Range just below the 1.09-took the offers to the EUR/USD and so it came to the Test of the days low of 1,0876.
EUR/USD ahead of Draghi in the range of the 2-week low
The strength of the USD in the last hour compared to the main rivals, and although the US bond yields fell and the market is sentiment to grow. The EUR/USD has also suffer from the emerging selling pressure. The US Dollar Index recovered from the in 99.25 days low to 99,36.
The Euro bulls ignored the economic data from France and Italy, during the course of development of the EUR/JPY seems to be leading the way. The EUR/JPY was to be a new daily low at 123,88, while the JPY purchases rose on a broad Front. The negative development of the European equities and the Treasury bond yields supported the safe haven of the Yen.
The markets hoping for some hints from ECB President Draghi to the Tapering, especially after the German Finance Minister Schaeuble said yesterday that the normalization of the ECB should begin monetary policy soon.
The focus is on Wednesday on the ECB Draghi’s speech and the Fed Speeches, so that the divergence in monetary policy again in the foreground advised should, especially while the markets started the June interest-rate increase by the Fed to press iron.
EUR/USD technical levels
Currently, the daily loss of -0.04% in 1,0870 and the next Resistances is at 1,0916 (23,6 % Fibo of the April to may rally), 1,0935 (High-9. May) and 1,1024 (2017 High 8. May). Currently supports can be found at 1,0861 (Deep-9. May), 1,0850 (38,2 % Fibo of the April to may rally) and 1,0829 (200-day SMA).
** FXStreet News Editorial, FXStreet**