EUR/USD: correction to running

FXStreet — The Euro fell against the US Dollar in the last two hours of trading on dive station. Blame the Comeback of the US Currency. As a result, the pair dropped below the mark of 1,1200 and marked a new daily low at 1,1185. Most recently traded the EUR/USD on 1,1190 and to 0.43 per cent in the Minus.

The recent Upward momentum of the US Dollar Index was due to rising yields for U.S. government bonds. The higher risk appetite of market participants made as a safe harbour well-known T-Bonds unattractive. The Index gained 0.37 percent to 97.24 though, while the 10-year yield for US government bonds climbed 1 percent to 2,276 percent. Positive purchasing Manager indices from the United States in Conjunction with the release of the U.S. budget for the coming year, the US stock exchanges supported, which is why the risk appetite of market participants in the US session started.

In the course of the day there will be no further economic data on the Agenda. 20 PM will speak in favour of the Fed chief of Minneapolis Kashkari to monetary policy. He is entitled to vote, and as a monetary policy dove known. However, his words should not take longer, besides other representatives of the American monetary policy would speak negatively to a possible rate hike in June.

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Technical Outlook

The next supports lie at 1,1160 (month low), 1,1100 (psychological level / Depth 19. May) and 1,1015 (20-day line). Resistors, on the other hand, 1,1260 (daily high), 1,1300 (High 09. November) and 1,1365 (High 18. To find August).

** FXStreet News Editorial, FXStreet**

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