1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

EUR/USD falls to near 50-MA, treasury yields rise

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    FXStreet (Mumbai) - The USD continues to strengthen in Europe on account of rise in the Treasury yields, pushing the EUR/USD pair lower towards its 50-DMA at 1.0943.

    USD bid as stocks rise, treasury yields advance

    The USD demand is on the rise on account of the rise in the treasury yields and the major European stock markets. The 10-yr yield advanced more than 3 basis points, while the pan-European Euro Stoxx 600 index gained 0.60%.

    The investors are cautious ahead of the Wednesday’s FOMC meeting, where the bank is widely expected to lift rates. As of now the pair hovers around the hourly 100-MA at 1.0951.

    EUR/USD Technical Levels

    The immediate resistance is seen at 1.0962 (hourly 50-MA), above which the pair could target 1.1006 (50% of 1.1495-1.0517). A break higher would expose 1.1031 (200-DMA). On the other hand, a break below 1.0943 (50-DMA) would open doors for a drop to 1.09-1.0890 (38.2% of 1.1495-1.0517).
    For more information, read our latest forex news.
     

Share This Page