EUR/USD falls to a low of 1.2073 on the day
The dollar is keeping slightly firmer across the board once again, with USD/JPY also nudging back just above 106.00 as we get things underway in Europe.
EUR/USD has fallen to fresh lows since 9 February, as sellers keep a break below its key hourly moving averages from yesterday. That sees the near-term bias switch to being more bearish as the downside momentum extends a little more today.
There is some support from the 50.0 retracement level of the recent swing move higher this month @ 1.2061 with the swing region around 1.2035-50 also an area to watch.
However, the 1.2000 level as well as the 100-day moving average @ 1.1990 are still the two key levels to watch in terms of the bigger picture for EUR/USD.
Although the bond rout has abated earlier, things are starting to take shape again with Treasuries trimming gains as yields are back to unchanged levels on the day.
