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.



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD claws to 1.6100 ahead of Europe
    Forex News

    GBP/USD claws to 1.6100 ahead of Europe

  2. EUR/USD glued to 1.2755; triggers are wanted
    Forex News

    EUR/USD glued to 1.2755; triggers are wanted

  3. Asia recap: most majors are still sleeping in a ranges; JPY is weakening
    Forex News

    Asia recap: most majors are still sleeping in a ranges; JPY is weakening

  4. Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure
    Forex News

    Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure

  5. US Dollar Technical Analysis: Stalling at Channel Support
    Forex News

    US Dollar Technical Analysis: Stalling at Channel Support

Trading Center