FXStreet – According to the multiple recovery attempt on 1,0925 failed, the EUR/USD offers now at 1.09 a Test subject.
The Major came under selling pressure, while European stocks have gains and the risk sentiment improved, which impacted the attractiveness of the Euro as a funding currency.
Add to that the rising interest in buying the USD against its rivals, in line with the rising US bond yields, which limits the recovery of the couple. The US Dollar Index, which represents the strength of the USD vs. its 6 most important rivals, rising 0.12% to 99,16, after which he found just over the 99 support.
Next, expect us from the US , the JOLTS job openings. Added to that, the FOMC Speeches by Rosengren (non-voter, hawkish) and Cape (voter, dovish).
EUR/USD technical levels
Commerzbank analyst Karen Jones says: “The EUR/USD in the short term more negative. The Euro had yesterday an important Umkehrtag and with the new High of 1,1040, there was a divergence of-the-day RSI. Which allows a downward movement, but the upward pressure with a close below the 200-day MA of 1,0830. To note is that an important Umkehrtag is often the indicator for the end of a trend movement. Above the 200-day MA, we can not exclude a motion to the January 2015 Low of 1,1098 and the 78,6% Retracement of 1,1146.”
** FXStreet News Editorial, FXStreet**