During today's session we can observe declines of the main currency pair. Yields on 10-year bonds have been rising for a long time, today they jumped to 1.41%, thus being the highest in a year. The rise in yields can be explained by further concerns about US inflation. From a technical point of view, EURUSD bounced off the key resistance zone at 1.2180. If the downward move continues, the nearest support lies at 1.2090 level. Only breaking above the aforementioned zone at 1.2180 would invalidate the bearish scenario. In this case, according to the classical technical analysis, a bullish signal will be generated - break above the neckline of reverse head and shoulder pattern.
EURUSD interval H4. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
