US Bond Yields Rip Higher


EURUSD – The pair closed lower on Thursday following its price extension. Support lies at the 1.0900 level. Further down, support lies at the 1.0850 level where a violation will aim at the 1.0800 level. A break of here will aim at the 1.0750 level. Its daily RSI us bearish and pointing lower suggesting further weakness. Conversely, on the upside, resistance comes in at 1.1050 level with a cut through here opening the door for more upside towards the 1.1100 level. Further up, resistance lies at the 1.1250 level where a break will expose the 1.1300 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURUSD faces further downside risk.