EURUSD buy after resistance tested
After Jerome Powell gave zero support to the bond market, 10-year treasury yields continued to climb higher to the level where foreign investors' attractiveness is getting more pronounced. Thus, the Dollar gets more support in the short-term to rebalance the bond market to a higher yield regime. On EURUSD, we are sitting at a long-term support level based on the risk range; breaking it will cause more deflation concerns than inflation in the US.
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