Greenback gains momentum as US stocks, oil tumble. EUR/USD testing daily lows, under pressure near 1.1250. The EUR/USD pair printed a fresh daily low after the beginning of the American session at 1.1256 and then bounced modestly to the upside. As of writing, it trades at 1.1270, down 40 pips for the day. The pair is correcting lower after rising from 1.1170 to 1.1350 during the first two days of the week. The key driver is a stronger US dollar across the board amid risk aversion. Equity prices in Wall Street are accelerating the decline as the rally of the dollar gains speed. The DXY is up 0.35%, trading back at the 97.00 area. The Dow Jones loses 2.40% and the Nasdaq 2.05%. The latest run lower in US stocks followed the latest COVID-19 reports from several US states. Short-term technical outlook The bearish intraday bias in EUR/USD will remain in place while under 1.1300 (20-hour moving average). Before that level, a resistance is seen at 1.1280. On the flip side, the pair is testing the 1.1250/55 support area. A break lower would add more pressure to the downside, exposing the next support at 1.1225. 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 Gold prices’ uptrend might extend to $2,000 – TD Securities FX Street 2 years Greenback gains momentum as US stocks, oil tumble. EUR/USD testing daily lows, under pressure near 1.1250. The EUR/USD pair printed a fresh daily low after the beginning of the American session at 1.1256 and then bounced modestly to the upside. As of writing, it trades at 1.1270, down 40 pips for the day. The pair is correcting lower after rising from 1.1170 to 1.1350 during the first two days of the week. The key driver is a stronger US dollar across the board amid risk aversion. Equity prices in Wall Street are accelerating the decline as the rally of the… 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.
