EUR/USD edges lower towards 0.9800 as US dollar firms up ahead PMIs EURUSD Currencies DollarIndex Technical Analysis Fed
Treasury yields cling to recent gains hawkish Fed outlook, Powell eyed. is dropping towards 0.9800 heading towards early European morning, as the US dollar is breaking its consolidative mode to the upside.
Meanwhile, the US Treasury yields are holding onto their recent upsurge, underpinning dollar bulls while exerting downward pressure on the major. Further, the euro also remains vulnerable, in the wake of the renewed Russian aggression. Looking at EUR/USD’s daily chart, the ascending triangle breakdown confirmed, following the Fed decision on Wednesday, keeps the further downside exposed towards 0.9750 – the psychological level. But the bears need a sustained break below the 0.9800 level beforehand.
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