Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro :EUR/USD trades lower on rising US bond yield, markets eye US non farm payroll

EUR/USD was trading lower after a recovery of more than 90 pips. The pair is trading flat after minor correction markets eye US non farm payroll data for further direction. US economy is expected to add 185k slightly less compared to previous month addition of 201k. The Italian 10 year bond yield is trading higher and gone up by more than 25% in past three trading days. It is trading near 3.40% slightly less from high of 3.51%. German and Italian 10 year spread has reduced slightly -231bpbs `from -305bpbs on Oct 2nd. US 10 year bond yield has recovered more than 6% this week.

 

On the lower side, near term support is around 1.1460 and any break below will drag the pair down till 1.138/1.1330. Any break below 1.1460 confirms further weakness.

 

The near term resistance is around 1.1550 and any violation above targets 1.1600/1.1660.

It is good to sell on rallies around 1.1575-80 with SL around 1.1605 for the TP of 1.1435.

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.