Market News

EUR/USD extends gains to two-month highs above 1.2150


After a quick recovery, US dollar resumes slide across the board.
EUR/USD testing the 1.2150 area, gains quite 150 pips in 24 hours.
The EUR/USD is trading slightly above 1.2150, at the very best levels since late February. After a pullback to the 1.2100 area, the pair resumed the upside, amid a sell-off of the US dollar.

The euro is rising for the second consecutive day during a row versus the greenback, accumulating a gain of quite 150 pips. a pointy decline of the dollar is driving the rally.

Following the discharge of the US employment report, the DXY tumbled. The index trades at rock bottom since February 26, below 90.30. US yields bottomed following the report but during the American session rebounded. The 10-year yield stands at 1.55%, faraway from the 1.48% (daily low).

The Department of Labor report showed lower-than-expected numbers and a rise within the percentage to six .1%. “The more muted 266,000 increase in non-farm payrolls last month may be a clear disappointment, but, with much of the high-frequency data – including jobless claims – still improving rapidly, we doubt it signals the recovery is in danger . It could, however, indicate that labor shortages are getting a big drag”, explained analysts at Capital Economics.

The euro is holding onto strong weekly gains, reinforcing the present upside bias. The EUR/USD started the newest leg higher after being rejected from under 1.2000 and recovered the 20-day moving average. subsequent resistance could be seen at 1.2175.

Technical levels
Today last price 1.2141
Today Daily Change 0.0076
Today Daily Change % 0.63
Today daily open 1.2065

Daily SMA20 1.2025
Daily SMA50 1.1946
Daily SMA100 1.2049
Daily SMA200 1.1948

Previous Daily High 1.2072
Previous Daily Low 1.1993
Previous Weekly High 1.215
Previous Weekly Low 1.2017
Previous Monthly High 1.215
Previous Monthly Low 1.1713
Daily Fibonacci 38.2% 1.2042
Daily Fibonacci 61.8% 1.2023
Daily Pivot Point S1 1.2015
Daily Pivot Point S2 1.1965
Daily Pivot Point S3 1.1937
Daily Pivot Point R1 1.2094
Daily Pivot Point R2 1.2122
Daily Pivot Point R3 1.2172

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