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Euro falls to new yearly lows – EUR/USD Market Outlook – 05/03/2021

SquaredFinancial

With the Dollar Index and US bond yields breaking out to new yearly highs, the euro bulls found themselves hanging by a thread. Chairman Powell tried his best to calm the markets yesterday, but equities continued to sell-off despite the Fed mentioning that they won’t stop stimulating the economy at least for another year. The 1.1950 support is the level that everyone is watching, if today’s NFP results disappoint the market, then further losses towards 1.19 and 1.1850 will be on the cards.

Support: 1.1950 / 1.19 / 1.1850
Resistance: 1.20 / 1.2030

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/euro-falls-to-new-yearly-lows-eur-usd-market-outlook-05-03-2021
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