The Euro underperformed on Monday and experienced losses. On Tuesday, the US Dollar Index finished above 103.00, marking its highest daily close in over a month. This was driven by higher US Treasury yields. The Greenback remains strong despite expectations that the Federal Reserve (Fed) will keep interest rates unchanged. US yields continue to rise, with the 10-year approaching 4.20% and the 2-year nearing 5%. On the economic front, Retail Sales data from the US are due on Tuesday.
H4 chart shows that the downtrend is still very strong, we can place a sell order as soon as the price line touches the support area of 1.09570.
Target 1 resistance zone 1.09000 Target 2 resistance zone 1.08500
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A break below that level should sound the alarm of an impending sharper drop. The next key support will be near the February-March bottom just above $1800.
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The dollar hit its highest in more than a month as investors sought safe havens amid concerns about the Chinese economy.
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The USD continues to increase strongly, putting pressure on the Euro as it has continuously decreased in recent sessions
The USD continues to increase strongly, putting pressure on the Euro as it has continuously decreased in recent sessions
Krado_KO
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The dollar hit its highest in more than a month as investors sought safe havens amid concerns about the Chinese economy.
Krado_KO
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A break below that level should sound the alarm of an impending sharper drop. The next key support will be near the February-March bottom just above $1800.