EUR/USD depressed near 1.1920 on USD gains

• Stronger greenback sends spot to the 1.1920 region, daily lows.
• US 10-year yields parked around 2.95% so far.
• EMU’s Sentix index missed estimates in May at 19.2.

The upside momentum around the greenback keeps EUR/USD under heavy pressure today around the 1.1920/15 band.

EUR/USD weaker, supported near 1.1900

The pair is prolonging the leg lower at the beginning of the week, always amidst the broad-based upbeat mood around the greenback and sidelined yields of the key US 10-year note.

In fact, the US Dollar Index (DXY) is flirting with 2018 tops around 92.80, while US 10-year yields keep gyrating around 2.95%/2.96%, as market participants continue to digest the recent results from the US labour market.

Also weighing down on the European currency, investors’ confidence in the euro bloc tracked by the Sentix Index dropped to 19.2 for the current month, missing expectations at 21.2.

Later in the session, the buck should stay in centre stage in light of speeches by Atlanta Fed R.Bostic (voter, centrist), Richmond Fed T.Barkin (voter, centrist), Dallas Fed R.Kaplan (non voter, hawkish) and Chicago Fed C.Evans (2019 voter, dovish).

EUR/USD levels to watch

At the moment, the pair is losing 0.31% at 1.1924 and a break below 1.1911 (2018 low May 4) would open the door to 1.1900 (psychological level) and finally 1.1718 (monthly low Dec.12 2017). On the other hand, the next upside barrier aligns at 1.2016 (200-day sma) seconded 1.2054 (10-day sma) and finally 1.2153 (low Mar.1).