EUR/USD breaks under 1.1370, hits 2-week lows on US dollar strength
- US dollar accelerates to the upside across the board on US data and optimism about US-China deal optimism.
- Euro drops versus Swiss franc and trims gains against pound.
The EUR/USD pair dropped further during the US session and fell to 1.1353, the lowest intraday level since January 4. It extended weekly losses to more than a hundred pips.
The negative momentum remains strong as the euro trades around the lows. The common currency also turned lower against the Swiss franc and the pound.
The move to the downside took place amid a rally of the US dollar supported by positive expectations about a China-US trade deal. Another positive support for the greenback are US yields. The 10-year rose to 2.78%, the highest in 20 days.
Economic data released today showed mixed numbers. Industrial Production expanded 0.3% in December (above the 0.2% expected) while the preliminary reading of the US Consumer Sentiment - University of Michigan surprised to the downside at 90.7 in January.
Technical levels
EUR/USD
Overview:
Today Last Price: 1.1358
Today Daily change: -0.0033 pips
Today Daily change %: -0.29%
Today Daily Open: 1.1391
Trends:
Daily SMA20: 1.1429
Daily SMA50: 1.1385
Daily SMA100: 1.1465
Daily SMA200: 1.1609
Levels:
Previous Daily High: 1.1406
Previous Daily Low: 1.137
Previous Weekly High: 1.1571
Previous Weekly Low: 1.1396
Previous Monthly High: 1.1486
Previous Monthly Low: 1.1269
Daily Fibonacci 38.2%: 1.1384
Daily Fibonacci 61.8%: 1.1393
Daily Pivot Point S1: 1.1372
Daily Pivot Point S2: 1.1353
Daily Pivot Point S3: 1.1336
Daily Pivot Point R1: 1.1409
Daily Pivot Point R2: 1.1426
Daily Pivot Point R3: 1.1445