After starting the Asian session on Friday at intraday lows of 1.1789, the EUR / USD has slowly regained ground, rising 25 pips to reach, at the European opening, a day high of 1.1815.
The common currency is gaining ground despite the fact that yields on 10-year Treasury bonds have continued to grow to 7-year highs around 3,128%.
The resistance of the euro is not a surprise, as the 14-day relative strength indicator (RSI) shows oversold conditions since May 2. In any case, it seems that the upward potential of the euro will be limited, as it is likely that yields will continue to rise courtesy of the monetary policy divergence between the ECB and the Fed.
In the field of data, Germany has published its index of production and wholesale prices for April, showing higher than expected results. In the coming hours, the Eurozone will publish its current account and trade balance for March. In the United States, only the speeches of FOMC members Brainard and Kaplan stand out.
Levels EUR / USD
With the pair trading at these moments above 1.1810 / 15, 0.17% above its opening price, the next resistance expected at 1.1867 (10-day simple moving average), followed by 1.1996 (May 14 maximum) and finally of 1.2021 (200 day simple moving average).
On the downside, a break of 1.1762 level (minimum of May 16), will point to 1.1718 (December 12, 2017 low), en route to 1.1553 (minimum of November 7, 2017).
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