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> Higher US yields putting pressure on the Euro – EUR/USD Market Outlook – 01/03/2021

Higher US yields putting pressure on the Euro – EUR/USD Market Outlook – 01/03/2021

Husam Alkurdi

Despite the risk-on rally in equities, the USD holds its ground from last week gains as the euro faced rejection around 1.21 ahead of German CPI. Price action looks weak after having formed an inverted bearish hammer (on the daily chart) last week. Also, progress in the US President Joe Biden’s $1.9 trillion stimulus plan is likely to support Treasury yields, keeping EUR/USD under pressure.

Support: 1.2060 / 1.2025
Resistance: 1.21 / 1.2180

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/higher-us-yields-putting-pressure-on-the-euro-eur-usd-market-outlook-01-03-2021
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