US dollar rises across the board as Wall Street turns negative. EUR/USD heads for the fourth consecutive daily loss under 1.2100. The EUR/USD broke below 1.2095 and dropped to 1.2071, reaching the lowest level in a week. As of writing, it trades near the lows, under pressure, about to post the fourth consecutive daily loss. US dollar recovers momentum A recovery of the US dollar, particularly against European majors weakened the EUR/USD. The US Dollar Index (DXY) rose above 91.00, the highest in two days. Deterioration in risk sentiment and higher US yields supported the greenback. Also technical factors weighed in the euro. The slide under the key short-term support area of 1.2100, added pressure. Under 1.2070, the next support is seen at 1.2040. A recovery back above 1.2100 would alleviate the negative bias. Key day ahead On Thursday, the economic calendar shows the US will report on weekly jobless claims and inflation. The key event for the EUR/USD will likely be the European Central Bank meeting. Action is expected from the central bank. “This ECB meeting has many moving parts with decisions on PEPP and TLTROs, plus new macro forecasts. Press conference tone to be the ultimate market driver, with signals from 2023 HICP forecast and whether ECB commits to using full PEPP”, explained analysts at TD Securities. Technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD pares large portion of daily gains, trades near 0.7450 FX Street 2 years US dollar rises across the board as Wall Street turns negative. EUR/USD heads for the fourth consecutive daily loss under 1.2100. The EUR/USD broke below 1.2095 and dropped to 1.2071, reaching the lowest level in a week. As of writing, it trades near the lows, under pressure, about to post the fourth consecutive daily loss. US dollar recovers momentum A recovery of the US dollar, particularly against European majors weakened the EUR/USD. The US Dollar Index (DXY) rose above 91.00, the highest in two days. Deterioration in risk sentiment and higher US yields supported the greenback. Also technical factors weighed… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
