26 May 2015
EUR/USD gyrates around 1.09
FXStreet (Mumbai) - The EUR/USD pair has steadied around 1.09 levels as the bid tone on the US dollars appears to have taken a breather ahead of critical economic data releases in the US.
German-US 10-year yield spread continues to favor USD
The benchmark 10-year German yield has extended losses to trade 6.8 basis points lower at 0.54%. On the other hand, the US 10-year treasury yield is down 5.2 basis points to 2.178%. Though the yield spread has not widened further, still it continues to remain in favor of the US dollar.
Ahead in the day, the yield spread may widen/contract, triggering fresh moves in the EUR/USD pair, due to Greece issue and the US economic data – durable goods report, Services PMI, New home sales report.
EUR/USD Technical Levels
The immediate support is seen at 1.0845 (61.8% R of 1.0461-1.1465). On the other hand, a break above 1.09-1.0920 could see the pair re-test 1.0963 (38.2% R of 1.0461-1.1465).
German-US 10-year yield spread continues to favor USD
The benchmark 10-year German yield has extended losses to trade 6.8 basis points lower at 0.54%. On the other hand, the US 10-year treasury yield is down 5.2 basis points to 2.178%. Though the yield spread has not widened further, still it continues to remain in favor of the US dollar.
Ahead in the day, the yield spread may widen/contract, triggering fresh moves in the EUR/USD pair, due to Greece issue and the US economic data – durable goods report, Services PMI, New home sales report.
EUR/USD Technical Levels
The immediate support is seen at 1.0845 (61.8% R of 1.0461-1.1465). On the other hand, a break above 1.09-1.0920 could see the pair re-test 1.0963 (38.2% R of 1.0461-1.1465).