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EURUSD News

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Last Updated Date: 6 April 2021 @ 6:07 AM (UTC)
*Please note that all the dates are in GMT time zone

The dollar dipped to one-week lows against a basket of currencies on Monday as stocks hit record highs, and as investors waited on the next catalyst to drive direction.

The dollar has rebounded this year along with rising U.S. Treasury yields as investors bet on faster U.S. economic growth and higher inflation as the economy reopens after COVID-19-related business shutdowns. The greenback has generally risen at the same time as stocks gain. Investors are now watching to see if that relationship continues as it may indicate a shift in how the currency responds to improving risk appetite.

Being oversold for the last 4 days, the EURUSD is showing a minor correction up towards 1.1850. 
Yesterday’s surge higher signals an upturn from minor flagging corrections / congestion and

projects a drive to 1.1880. A close over 1.1880 could extend out moves to 1.1950. A complete reversal of yesterday’s range is needed to reject the upturn, but only a close under 1.1730 starts a sustained turn to lower levels.

Resistance 2       1.1850
Resistance 1       1.1830

 
Support 1            1.1790
Support 2            1.1770


 
 
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