EUR/USD falls to lows for the day as dollar holds firmer on the session

EUR/USD sellers look to try and seize near-term control

Despite calmer tones in the market so far in European morning trade, the dollar is still keeping bid as there is still an air of uncertainty ahead of US trading later.

EUR/USD H1 26-02

EUR/USD is pushed to fresh session lows @ 1.2123 and is testing trendline support as well as its 200-hour moving average (blue line) @ 1.2127. Hold a break below and sellers will seize near-term control after prior attempts earlier in the week falling short.

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As much as the dollar is keeping firmer so far today, a lot still rides on the overall market sentiment and how the bond market plays out ahead of the weekend.

US futures are testing the waters by creeping higher but the gains are nothing in comparison to the drop yesterday – not to mention keeping close to flat levels.

Meanwhile, Treasury yields are still looking fidgety despite keeping a little lower today with 10-year yields hovering around 1.46-48% for the most part.

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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