EUR/USD below 1.08, at lowest since January

Dollar demand strengthened in Asia, pushing the EUR/USD pair to 1.0785; the lowest level since January 2016. 

Treasury yields rise, funding currencies tank

Treasury yields continue to rise on Trump outlook. The 10-yr rose to 2.20%, which is the highest level since January. Consequently, the American dollar continues to rule the roost, while the funding currencies - EUR, JPY are being offered. 

Trump is expected to boost fiscal spending, which is likely to result in high inflation/high growth. The common currency was last seen trading around the session low of 1.0785. 

EUR/USD Technical Levels

A breach of support at 1.0711 (Jan low) would open doors for 1.06 (zero figure), under which the 2015 low of 1.0463 could be put to test. On the higher side, breach of resistance at 1.0851 (Oct 25 low) would expose 1.0892 (5-DMA) and 1.0989 (10-DMA).