The EUR /USD pair declined on Thursday as the dollar retreated as investors refocused on the chances of higher U.S. inflation and growth. Investor appetite for dollar improved with higher global bond yields and stable st…
The EUR /USD pair declined on Thursday as the dollar retreated as investors refocused on the chances of higher U.S. inflation and growth.
Investor appetite for dollar improved with higher global bond yields and stable stock markets around the world, a day after the Dow Jones Industrial Average topped the 20,000 mark for the first time.
New U.S. single-family home sales fell to a 10-month low in December after three straight months of solid gains, but the housing market recovery remains intact as a tightening labor market boosts wage growth.
The ongoing weakness is set to continue for this pair as the resistance level at 1.0773 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
To the upside, the immediate resistance can be seen at 1.0705, a break above this level would expose the pair to next resistance level at 1.0773.
To the downside, immediate support can be seen at 1.0644, a break below at this level will open the door towards next level at 1.0600.
