EUR/USD rebounds from 2-day lows around 1.2245. The dollar remains bid as US yields climb above the 1.0% mark. US Initial Claims rose 77K WoW ahead of the ISM Non-Manufacturing. EUR/USD remains in recovery-mode following the earlier test of lows in the mid-1.2200s. EUR/USD weaker on USD-buying EUR/USD so far halts a 3-day positive streak, coming under selling pressure after hitting new tops in the 1.2350 region on Wednesday, levels last traded nearly three years ago. The fresh buying mood in the greenback comes on the back of rising yields of the US 10-year reference, which manage to surpass the key 1.0% level for the first time since February 2020. In the docket, inflation figures in the euro region showed the lack of traction in consumer prices in December, while Consumer Confidence remained subdued albeit a tad better than the previous reading. In the US, Initial Claims rose at a weekly 787K and the US ISM Non-Manufacturing is due later along with speeches by FOMC’s Evans, Bullard and Harker. What to look for around EUR The upside momentum in EUR/USD run out of steam in the 1.2350 area for the time being. So far, EUR/USD appears supported by prospects of a strong recovery in the region (and abroad), which is in turn underpinned by extra fiscal stimulus by the Fed and the ECB. In addition, real interest rates continue to favour the euro area vs. the US, which is also another factor supporting the EUR along with the huge, long positioning in the speculative community. EUR/USD levels to watch At the moment, the pair is retreating 0.48% at 1.2264 and faces immediate contention at 1.2129 (weekly low Dec.21) seconded by 1.2058 (weekly low Dec.9) and finally 1.2032 (23.6% Fibo of the 2017-2018 rally). On the other hand, a breakout of 1.2349 (2021 high Jan.6) would target 1.2413 (monthly high Apr.17 2018) en route to 1.2476 (monthly high Mar.27 2018). 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 Silver continues consolidation above $27.00 amid conflicting forces FX Street 2 years EUR/USD rebounds from 2-day lows around 1.2245. The dollar remains bid as US yields climb above the 1.0% mark. US Initial Claims rose 77K WoW ahead of the ISM Non-Manufacturing. EUR/USD remains in recovery-mode following the earlier test of lows in the mid-1.2200s. EUR/USD weaker on USD-buying EUR/USD so far halts a 3-day positive streak, coming under selling pressure after hitting new tops in the 1.2350 region on Wednesday, levels last traded nearly three years ago. The fresh buying mood in the greenback comes on the back of rising yields of the US 10-year reference, which manage to surpass 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.