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Last Updated Date: 15 April 2021 @ 6:44 AM (UTC)
*Please note that all the dates are in GMT time zone

The U.S. dollar sank to a new four-week low versus major peers on Thursday as Treasury yields pulled back from last month's surge, with investors increasingly convinced by the Federal Reserve's arguments that interest rates will stay low for some time.

The dollar has been losing steam a bit in line with falls in U.S. bond yields as the Fed has maintained its dovish stance. The euro rose as high as a four-week top of $1.1989, matching the highest level since March 4, before trading mostly unchanged at $1.19735.

Although the EURUSD is in the overbought area for the last 3 days, the market still hint for a short term trend shift to the upside. Look for attempts to extend rallies ⇒ 1.2022. Be careful for another corrective congestion day. A close under 1.1930 is bearish and suggests a selling wave to new lows 1.1840. 

Resistance 2       1.2022
Resistance 1       1.2000

Support 1            1.1950
Support 2            1.1930


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