💶 $EUR BREAKOUT | $1.1704 +0.8% — Euro Hits 3-Month High!
EUR surging as Dollar hits 3-month lows! Euro now at $1.1704, highest since late May
Why?
US Treasury moved to calm bond market rout (yields highest since 2007) — Dollar index DXY fell to 98.813, weakest since mid-May. Weaker USD = stronger EUR. OCBC: “If long-end yields are capped, weaker USD is trade-off to keep US debt attractive.”
Technical:
• Current: $1.1704, Open $1.1612
• Support: $1.1612 immediate
• Resistance: $1.1750 — break opens $1.18+
• Trend: Bullish — strong uptrend from Aug 14, volume spiking Aug 20
• Dollar context: EUR at $1.1676-$1.1704 perched at top
Hold above $1.1612 = continuation to $1.18. Lose $1.1612 = back to $1.1550 EMA.

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