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9 Apr 2015
EUR/USD hit fresh daily lows
FXStreet (Mumbai) - The bid tone on the USD got more pronounced after the better-than-expected weekly jobless claims data, thereby pushing the EUR/USD pair to a fresh daily low of 1.0723.
USD supported by an uptick in Treasury yields
The dollar is being bid higher tracking the uptick in the Treasury yields. The 10-year yield rose 1.4 basis points (bps) to 1.909%, while the 30-year yield rose 1.6 bps to 2.536%. The 2-year yield also ticked 1.2 bps higher at 0.544%. The yields hardened after the data in the US showed four-week moving average of initial claims dropped to its lowest since June 2000.
Consequently, the EUR/USD pair fell to 1.0723, nearing its lowest level since March 31st. Strength in the yields could keep the USD in demand for the rest of the day.
EUR/USD Technical Levels
The immediate support is seen at 1.0711, under which the losses could be extended to 1.0682. On the flip side, a break above 1.0750 could drive the pair back to 1.08 levels.
USD supported by an uptick in Treasury yields
The dollar is being bid higher tracking the uptick in the Treasury yields. The 10-year yield rose 1.4 basis points (bps) to 1.909%, while the 30-year yield rose 1.6 bps to 2.536%. The 2-year yield also ticked 1.2 bps higher at 0.544%. The yields hardened after the data in the US showed four-week moving average of initial claims dropped to its lowest since June 2000.
Consequently, the EUR/USD pair fell to 1.0723, nearing its lowest level since March 31st. Strength in the yields could keep the USD in demand for the rest of the day.
EUR/USD Technical Levels
The immediate support is seen at 1.0711, under which the losses could be extended to 1.0682. On the flip side, a break above 1.0750 could drive the pair back to 1.08 levels.