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EUR/USD: Dollar weakens on plummeting confidence
The EUR/USD pair has bottomed at 1.1705 in the previous week, while at 1.1703 in March, and would need now to break below the 1.1700 price zone to resume its bearish trend. The daily chart shows that the recovery stalled around a flat 20 SMA, while technical indicators recovered within negative levels, suggesting limited buying
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Forex Today: Dollar hurt, China to set the tone
The greenback plummeted following the release of US Michigan Consumer Sentiment, down to an almost 10-year low in August. The sentiment collapsed as the spread of the Delta variant in the country spurred concerns about the economic comeback. US Treasury yields were sharply down, although Wall Street managed to post modest gains, with the DJIA
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