• EUR/USD keeps the offered stance unchanged near 1.1430.
  • US yields trade in a mixed note following Thursday’s holiday.
  • US flash Consumer Sentiment next on tap in the docket.

EUR/USD extends the weekly bearishness for yet another session and clinches fresh 2021 lows near 1.1430 at the end of the week.

EUR/USD offered on dollar’s rally

EUR/USD navigates levels last traded back in the summer 2020 amidst the relentless march north in the greenback, which pushed the US Dollar Index (DXY) to new cycle peaks in the 95.25/30 band on Friday.

The pair, in the meantime, remains at the mercy of dollar dynamics and it has definitely accelerated the downtrend following the release of US inflation figures during October (Wednesday) and the breakdown of the key 200-week SMA (1.1561). The first event triggering a sharp move higher in the buck along with US yields and speculations of an anticipated lift-off by the Fed.

Back to the calendar, Industrial Production in the broader Euroland came above expectorations after contracting 0.2% inter-month in September, while expanding 5.2% vs. the same month in 2020.

Across the Atlantic, September JOLTs Job Openings and the preliminary Consumer Sentiment for the month of November are due.

EUR/USD levels to watch

So far, spot is down 0.09% at 1.1439 and faces the next up barrier at 1.1583 (20-day SMA) followed by 1.1609 (weekly high November 9) and finally 1.1616 (monthly high Nov.4). On the other hand, a break below 1.1432 (2021 low Nov.12) would target 1.1422 (monthly high Jun.10 2020) en route to 1.1300 (round level).

This article was originally published by Fxstreet.com.Read the original article here.

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