EUR/USD at fresh session highs, DAX drops 1%

By FXStreet FXStreet (Mumbai) – The losses in the major European equity markets pushed the EUR/USD pair to a fresh session high of 1.1324 levels.

Gains capped by uptick in treasury yields

The treasury yields in the US have surprisingly stayed upbeat amid losses in the European equities and US index futures. The Germany’s DAX index fell more than 1%, dragging the US S&P 500 futures lower along with it. Still, the 10-year treasury yield is up more than two basis points to 2.155%.

Ahead of the US housing day, the pair could track the movement in the equity markets. Meanwhile, comments from Fed’s Lockhart later in the day could dominate wires as well.

EUR/USD Technical Levels

The immediate resistance is located at 1.1350 (Sep 11 high), above which the pair could extend gains to 1.14 levels. On the other side, support is located at 1.1269 (Friday’s low) and 1.1218 (200-DMA).
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Source:: FX Street