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13 Apr 2015
EUR/USD steadies around 1.0590-1.06
FXStreet (Mumbai) - The sell-off in the EUR/USD appears to have halted around 1.0590-1.06 in the early European session as the US Treasury yields fell moderately.
USD takes a breather as Treasury yields slid
The sharp rally in the USD witnessed since late Thursday evening, appears to have taken a breather at the moment as the Treasury yields weakened moderately. The 10-year yield in the US fell 1.3 basis points to 1.94%, while the 30-year yield fell 1.4 basis points to 2.569%. Meanwhile, the 2-year yield also fell 1.2 basis points to 0.552%.
The pair is likely to take cues from the overall market sentiment amid the absence of a major market moving data. Greece related news could also influence the pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0610, above which gains could be extended to 1.0648 (hourly 50-MA). On the flip side, support is seen at 1.0583, under which losses could be extended to 1.0550.
USD takes a breather as Treasury yields slid
The sharp rally in the USD witnessed since late Thursday evening, appears to have taken a breather at the moment as the Treasury yields weakened moderately. The 10-year yield in the US fell 1.3 basis points to 1.94%, while the 30-year yield fell 1.4 basis points to 2.569%. Meanwhile, the 2-year yield also fell 1.2 basis points to 0.552%.
The pair is likely to take cues from the overall market sentiment amid the absence of a major market moving data. Greece related news could also influence the pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0610, above which gains could be extended to 1.0648 (hourly 50-MA). On the flip side, support is seen at 1.0583, under which losses could be extended to 1.0550.