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EUR/USD breaks under 1.1370, hits 2-week lows on US dollar strength

  • US dollar accelerates to the upside across the board on US data and optimism about US-China deal optimism. 
  • Euro drops versus Swiss franc and trims gains against pound. 

The EUR/USD pair dropped further during the US session and fell to 1.1353, the lowest intraday level since January 4. It extended weekly losses to more than a hundred pips. 

 The negative momentum remains strong as the euro trades around the lows. The common currency also turned lower against the Swiss franc and the pound. 

The move to the downside took place amid a rally of the US dollar supported by positive expectations about a China-US trade deal. Another positive support for the greenback are US yields. The 10-year rose to 2.78%, the highest in 20 days.  

Economic data released today showed mixed numbers. Industrial Production expanded 0.3% in December (above the 0.2% expected) while the preliminary reading of the US Consumer Sentiment - University of Michigan surprised to the downside at 90.7 in January. 

Technical levels 
 

EUR/USD

Overview:
    Today Last Price: 1.1358
    Today Daily change: -0.0033 pips
    Today Daily change %: -0.29%
    Today Daily Open: 1.1391
Trends:
    Daily SMA20: 1.1429
    Daily SMA50: 1.1385
    Daily SMA100: 1.1465
    Daily SMA200: 1.1609
Levels:
    Previous Daily High: 1.1406
    Previous Daily Low: 1.137
    Previous Weekly High: 1.1571
    Previous Weekly Low: 1.1396
    Previous Monthly High: 1.1486
    Previous Monthly Low: 1.1269
    Daily Fibonacci 38.2%: 1.1384
    Daily Fibonacci 61.8%: 1.1393
    Daily Pivot Point S1: 1.1372
    Daily Pivot Point S2: 1.1353
    Daily Pivot Point S3: 1.1336
    Daily Pivot Point R1: 1.1409
    Daily Pivot Point R2: 1.1426
    Daily Pivot Point R3: 1.1445

 

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