EUR/USD could turn bearish on a slide below 1.1295 and approach the year low. The USD is down against most major rivals. However, major pairs trade within familiar levels, with EUR/USD hovering near a daily high of 1.1334.
en. However, major pairs trade within familiar levels, with EUR/USD hovering near a daily high of 1.1334. Investors quietly returned from a long weekend, with a pitch of optimism amid reports suggesting that the Omicron variant is much less serious and less likely to end with hospitalizations than the previously known strains, despite being highly contagious.
Meanwhile, Asian shares traded mixed, but European ones advanced, leading to substantial gains in Wall Street. At the same time, Treasury yields ticked lower, with that on the 10-year note holding below the 1.50% threshold.met buyers on approaches to the 1.1300 level, also holding above the 23.6% retracement of its November decline at 1.1305.
The 4-hour chart shows that the 20 SMA is advancing above directionless longer ones, all of them confined to a tight range and with the price hovering around them, indicating the absence of directional strength. Technical indicators are crossing their midlines into positive levels but without strength enough to suggest a bullish breakout in the near term. The pair could turn bearish on a break below 1.1295 and approach then the year low at 1.1185.
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