EUR/USD re-takes 1.0600 amid falling T-yields, Trump eyed

The EUR/USD pair bounced-off a brief dip to session lows of 1.0576, and makes another attempt to regain 1.06 handle amid renewed weakness seen in US treasury yields, as markets price-in no news surprises or details from the upcoming Trump interview on ‘Fox and Friends’ scheduled at 1100GMT.

Fresh selling in the treasury yields is seen pushing the greenback lower across the board, while unnerved markets ahead of Trump’s appearance boost the demand for the funding currency EUR.

On the data front, we have the US prelim GDP report, followed by goods trade balance and CB consumer confidence data. However, the main market driver for the major today will remain Trump’s interview and his congressional address due later on Tuesday.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.0633 (5-day highs). A break beyond the last, doors will open for a test of 1.0638 (50-DMA) and from there to 1.0682 (Feb 16 high). On the flip side, the immediate support is placed at 1.0520 (Jan 6 low) below which 1.0500 (psychological levels) and 1.0478 (Jan 5 low) could be tested.