#EURUSD @ 1.06104 US Dollar mix on Wednesday between higher US yields and risk appetite. (Pivot Orderbook analysis)

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• US Dollar mix on Wednesday between higher US yields and risk appetite.
• Wall Street posts important gains: Dow Jones up by 1.70%.
• EUR/USD on a quiet range, moving near 1.0600.

The pair currently trades last at 1.06104.

The previous day high was 1.0658 while the previous day low was 1.0579. The daily 38.2% Fib levels comes at 1.0628, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0609, expected to provide support.

The EUR/USD continues to move without a clear direction. It printed a fresh daily low at 1.0595 and then rebounded back above 1.0600.

The US Dollar is posting mixed results across the board. The rebound in US bond yields is being offset by risk appetite. The Dow Jones is up by 1.70% while the S&P 500 gains by 1.60%.

Existing Home Sales dropped in November for the 10th straight month to an annual rate of 4.09 million, below the 4.20 million of market consensus. A different report showed the Conference Board Consumer Confidence Index rose in December to 108.3 beating market estimates.

Risk sentiment prevailed after the numbers and even US bond yields. The US 10-year bond yield stands at 3.68% after rebounding from 3.62% while the 2-year bond yield climbed from under 4.20% to 4.23%. In Europe, bond yields also rebounded, helping EUR/USD remain sideways. The Euro is also receiving support from the rally in EUR/GBP that trades at monthly highs above 0.8770.

Since the beginning of the week, EUR/USD is moving around 1.0610, in a range, with the upper limit at 1.0660 and the bottom at 1.0575. A consolidation below 1.0570 could open the doors to an extension of the correction after reaching levels above 1.0700 last week.

On the contrary, a firm break above 1.0660 should expose the 1.0700 mark that protects the December high at 1.0737.

Technical Levels: Supports and Resistances

EURUSD currently trading at 1.0619 at the time of writing. Pair opened at 1.0615 and is trading with a change of 0.04 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 1.0509, 50 SMA 1.0212, 100 SMA @ 1.0094 and 200 SMA @ 1.0341.

The previous day high was 1.0658 while the previous day low was 1.0579. The daily 38.2% Fib levels comes at 1.0628, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0609, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 1.0577, 1.0538, 1.0497
• Pivot resistance is noted at 1.0656, 1.0697, 1.0736

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