Tracking US Treasury Yields, US Dollar Extends Losses

March carved out a third consecutive loss, extending the 2021 retracement slide by 2.8 percent. Recent underperformance, as you can see, pulled EUR/USD into the upper range of demand at 1.1857/1.1352. April’s 1.5 percent rebound thus far, however, shifts attention to the possibility of fresh 2021 peaks and a test of ascending resistance (prior support – 1.1641). Extending lower, on the other hand, shines the technical spotlight on trendline resistance-turned support, taken from the high 1.6038. In terms of trend, the primary uptrend has been underway since price broke the 1.1714 high (Aug 2015) in July 2017. … (full story)

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