EUR/USD jumps to daily highs on falling yields

By FXstreet.com | July 08, 2014 AAA

FXStreet (San Francisco) - The EUR/USD turned positive in the day as the US dollar selling has intensified amid US yields slip.



The Euro advanced 25 pips from 1.3585 to break above the 1.360 level and trade as high as 1.3615 where the 200-hour MA stands.



"Sliding US yields are helping undermine the Greenback," comments Jamie Coleman from FXBeat. "From near 2.70% on Thursday after the US employment report, we've fallen to 2.58% today. That's down an additional 3.5 bp from yesterday's close."



Currently, EUR/USD is trading at 1.3612, up 0.06% on the day, having posted a daily high at 1.3614 and low at 1.3588. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.



EUR/USD levels



"Offers remain in the 1.3610/20 zone but stops are mixing in around 1.3615 from short-term specs," points out Coleman.



Above the 1.3615, the EUR/USD would face resistances around 1.3645 and 1.3700. On the downside, supports are at 1.3610, 1.3585 and 1.3575.



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