FXStreet — The cops defend in this session, the 1.11, while the weakness against the US Dollar, that the bids in the EUR/USD to remain intact.
EUR/USD supported 1.1100
The EUR/USD moves in a narrow Range and, while the trading activity of the Greenback’s behavior towards its most important counterparties. The investors are processing the latest headlines from around the Trump budget proposal.
The Couple struggles to overcome the resistance of 1,1115. How Treasury yields to record higher and the risk of a continuation of the upward movement. The 10-year Treasury yield reached the intraday high at 2,2240 %, which corresponds to a daily gain of 0.30%.
The focus shifts to the fundamentals, since we are from Germany, the PPI and the Eurozone current account expect. From the USA there is in the afternoon no important publications.
EUR/USD technical levels
Commerzbank analyst Karen Jones says: “The EUR/USD Outlook remains in the short term overstretched, The Euro made its High at 1,1174, which could not be confirmed by the daily RSI and together with the Count of 13 on the 4-hour chart, we assume that there will be a short-term setback. This should come across in the vicinity of the short-term upward trend of 1,0918 on a support. Above this level the potential that the market will reach the November 2016 High of 1.1300 and then the focus shifts to the middle of 2016 high to 1,1400. Immediate resistance stands with the 23.6% Retracement of the downward movement from the 1,3995 2014 at 1.1200.»
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