The Euro remains subdued below 1.18 despite the risk-on sentiment in equities, as the 4-month breakout on the 10-year US Treasury yield is limiting any further gains on the pair and keeping it in a narrow range between the 50 and the 200-period SMAs. If the yield continues to rise, the focus will likely shift to the widening US-German yield differential and possibly reverse the pair to the downside.
Support: 1.1755 / 1.17
Resistance: 1.18 / 1.1870
