EUR/USD drops to six day lows under 1.1300

• US dollar gains momentums across the board on America hours; DXY gains 0.12%.
• Equity prices in Wall Street mostly in positive ground.
• EUR/USD breaks minor range, but remains sideways.

The EUR/USD weakened after the beginning of the American session and dropped to 1.1288, reaching the lowest level in six days. During the last hour, it trimmed losses rising back above 1.1300.

Stocks up, US yields down but off lows

In Wall Street, stocks are trading mostly higher amid optimism about the impact of Omicron following new announcements from the Centers for Disease Control regarding isolation guidelines. The Dow Jones gains 0.44% and the SP500 is rising 0.11%. The 10-year yield stands at 1.46%, modestly lower for the day. The rebound of the US dollar was helped by US yields that move of lows on American hours.

Economic data released on Tuesday showed the FHFA House Price Index rose 1.1% in October while the S&P CoreLogic/Case-Shiller index climbed 18.4% from a year ago in October (below the 19.1% of September).

EUR/USD still sideways

Despite hitting six-day lows, EUR/USD continues to move sideways without a clear direction. A consolidation under 1.1290 should expose the next support level at 1.1260. While on the upside, the euro needs to break above the 1.1350/60 barrier in order to clear the way to more gains.

Technical levels