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14 Dec 2015
EUR/USD falls to near 50-MA, treasury yields rise
FXStreet (Mumbai) - The USD continues to strengthen in Europe on account of rise in the Treasury yields, pushing the EUR/USD pair lower towards its 50-DMA at 1.0943.
USD bid as stocks rise, treasury yields advance
The USD demand is on the rise on account of the rise in the treasury yields and the major European stock markets. The 10-yr yield advanced more than 3 basis points, while the pan-European Euro Stoxx 600 index gained 0.60%.
The investors are cautious ahead of the Wednesday’s FOMC meeting, where the bank is widely expected to lift rates. As of now the pair hovers around the hourly 100-MA at 1.0951.
EUR/USD Technical Levels
The immediate resistance is seen at 1.0962 (hourly 50-MA), above which the pair could target 1.1006 (50% of 1.1495-1.0517). A break higher would expose 1.1031 (200-DMA). On the other hand, a break below 1.0943 (50-DMA) would open doors for a drop to 1.09-1.0890 (38.2% of 1.1495-1.0517).
USD bid as stocks rise, treasury yields advance
The USD demand is on the rise on account of the rise in the treasury yields and the major European stock markets. The 10-yr yield advanced more than 3 basis points, while the pan-European Euro Stoxx 600 index gained 0.60%.
The investors are cautious ahead of the Wednesday’s FOMC meeting, where the bank is widely expected to lift rates. As of now the pair hovers around the hourly 100-MA at 1.0951.
EUR/USD Technical Levels
The immediate resistance is seen at 1.0962 (hourly 50-MA), above which the pair could target 1.1006 (50% of 1.1495-1.0517). A break higher would expose 1.1031 (200-DMA). On the other hand, a break below 1.0943 (50-DMA) would open doors for a drop to 1.09-1.0890 (38.2% of 1.1495-1.0517).