EURUSD and silver dropped to key support zones
In spite of a pause in recent yields surge, precious metals and EURUSD struggle to catch a breath. Sell-off on the bond market eased but it failed to translate into a noticeable US dollar weakness as the US currency outperforms other majors today and pressures the main currency pair as well as silver.
EURUSD dropped to the 1.1835 support zone, marked with year-to-date lows, while silver has reached a $24.89 demand zone. In both cases, future moves will depend on the performance of the US dollar. In case greenback continues to strengthen, EURUSD and silver may be set for more pain. On the other hand, weakening of the US currency could help launch an upward impulse.
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Open account Try demo Download mobile app Download mobile appTraders should keep in mind that EURUSD is likely to become more active at the beginning of the European cash session as French and German flash PMIs for March will be released at 8:15 am GMT and 8:30 am GMT, respectively.
EURUSD is retesting year-to-date lows in the 1.1835 area. Source: xStation5
Silver has pulled back to the $24.89 support zone, which is marked with the lower limit of a recent trading range. Source: xStation5
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