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EUR/USD reaches a minimum of four weeks, low limited by 1.1070

EUR/USD reaches a minimum of four weeks, low limited by 1.1070


The EUR / USD pair fell to 1.1069 during the US session, reaching the lowest level since December 24. Then he recovered and at the time of writing, is located at 1.1085, around the same level that closed on Tuesday.

While other currencies such as the pound, the yen and the Swiss franc have appreciated against the US dollar in recent hours, the euro remained flat, unable to benefit from a somewhat weaker US dollar the day before the Bank meeting European Central

The dollar is publishing mixed results. The DXY falls moderately and trades at 97.60, still close to the latest highs. The decline in US yields They weigh on the US dollar which is still higher compared to commodity currencies. A strong rebound in the USD / CAD after the Bank of Canada meeting probably weakened the AUD / USD and the NZD / USD .

Technical levels Despite reaching the lowest intraday level in almost a month, the EUR / USD quickly recovered, as it still cannot keep below 1.1080. If it consolidates successfully below the indicated level, there are likely to be more losses. The next support could be located at 1.1065 and then at 1.1040.

In the short term, the EUR / USD operates laterally. Before making ground, he published a new high at 1.1097. The area of ​​1.1100 is immediate resistance, followed by 1.1120.

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