EUR/USD approaches the 1.1400 amid broad US dollar weakness.

[Nancy parez]

At press time, the shared currency advances 0.41%, trading at 1.1368 during the New York session, amid broad US dollar weakness. In the overnight session, the EUR/USD was trapped within the 1.1320-40 range, though the US dollar weakened as the American session got underway, thus increasing the demand for the euro. 

Falling US T-bond yields undermine the greenback
The US Dollar Index, which tracks the greenback’s performance against a basket of six rivals, falls 0.25%, sitting at 95.55, undermined by falling US T-bond yields, with the 10-year note losing almost two basis points, down to 1.587%.

On the other hand, For those looking to hit the long side of the US Dollar, GBP/USD may be in an interesting spot. I had looked at the 1.3500 psychological level for lower-high resistance potential and price action continues to crawl up to this spot on the chart. At this point, all that we have is the bullish jump up to this level, but this may be opening the door for bullish continuation scenarios around the USD.

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