EUR/USD turns negative around 1.1760 on dollar, yields recovery

After hitting fresh daily tops in the 1.1780 region, sellers return to the market and now drag EUR/USD back to the negative territory. EUR/USD looks t  |  17/09/2021 14:42
  • EUR/USD fades initials gains to the 1.1780 area.
  • The dollar regains upside traction along with yields.
  • Flash US Consumer Sentiment comes up next in the docket.

After hitting fresh daily tops in the 1.1780 region, sellers return to the market and now drag EUR/USD back to the negative territory.

EUR/USD looks to USD, bonds

EUR/USD now adds to Thursday’s deep pullback to fresh monthly lows in the mid-1.1700s and reverses the initial optimism in response to the bounce in the dollar and US yields.

Actually, yields of the US 10-year reference note come back to life and flirt with the key 200-day SMA around 1.37%, while the buck follows suit and pushes the US Dollar Index (DXY) closer to the key barrier at 93.00 the figure.

Earlier in the euro calendar, the EMU’s Current Account surplus improved to €30.2B in July and final inflation figures in the broader euro zone matched the preliminary readings in August: up 0.4% MoM and 3.0% YoY. In addition, the Core CPI rose 1.6% over the last twelve months.

Later in the US docket, the preliminary results from the Consumer Sentiment is expected to grab all the attention.

EUR/USD levels to watch

So far, spot is losing 0.06% at 1.1757 and faces the next up barrier at 1.1798 (55-day SMA) followed by 1.1845 (weekly high Sep.14) and finally 1.1909 (monthly high Sep.3). On the other hand, a break below 1.1750 (monthly low Sep.16) would target 1.1704 (monthly low Mar.31) en route to 1.1663 (2021 low Aug.20).

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on FX
and other asset classes for Market Insight viewers

RISK WARNING

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

  • ForexF
  • IndicesI
  • CommoditiesC
        Back

        Login to Market Insight Account

        Your Market Insight account gives you access to the tools that we offer our customers including our
        Technical Studies & Sentiment for your accounts.

        Forgot Password?

        Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

        Create a Market Insight's Account

        Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

        register_ty

        Thank you!

        Welcome to Market Insight family!

        You have succesfully completed the registration.
        We will send you an e-mail to give you some
        instructions and our Terms and Conditions!
        Our account representatives will be contacting you as
        soon as possible. If you have any further questions
        please do not hesitate to mail us via info@marketinsight.com