EUR/USD is trading on the back foot in Asia after having failed for the second time to take out hourly 100-MA for the second time this week.
Focus on Treasury yields
The data docket across the Eurozone is light, hence the spot is likely to track the action in the Treasury yields, which could come under pressure on account of the sharp drop in oil prices.
Traders would also keep an eye on US election related news flow. Later in the day, US ISM manufacturing employment sub index for October could move markets.
EUR/USD Technical Levels
Acceptance above hourly 100-MA level of 1.0979 could yield a test of supply around 1.1039 (Oct 20 high). The next major hurdle is noted at 1.1091 (hours 200-MA). On the other hand, a breakdown of support at 1.0936 (4-hour chart support) would open doors for 1.09 (zero figure), under which losses could be extended to 1.0851 (Oct 25 low).
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