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EUR/USD sellers flirt with 1 1800 amid four-day downtrend

7/20/2021 3:56:14 AM GMT | By Anil Panchal EUR/USD stays on the back foot near early April levels. US Treasury yields defend greenback bulls even as market sentiment consolidates. US Senate Majority Leader Chuck Schumer announced Infrastructure Bill will be voted on Wednesday but not every detail. Sino-American headlines, virus updates could offer fresh direction, German PPI, ECB Bank Lending Survey also important to watch. EUR/USD retreats to an intraday low of 1.1790, down 0.09% on a day, heading into Tuesday’s European session. That being said, the US dollar’s sustained strength keeps weighing on the currency major pair for the fourth consecutive day.

AUD/USD bounces off fresh eight-month low near 0 7300 amid mixed clues

7/20/2021 4:49:18 AM GMT | By Anil Panchal AUD/USD remains pressured during four-day downtrend. Australia witnesses more local lockdowns, bond moves add to USD strength. RBA, PBOC couldn’t placate bears, risk catalysts are the key. AUD/USD drops to a fresh low since November 2020, before recently bouncing off, down 0.30% around 0.7317, ahead of Tuesday’s European session. The risk barometer earlier paused near the yearly low as sellers awaited more clues following dull RBA minutes and the PBOC inaction. However, the US dollar strength and the Delta covid variant fears recently dragged the quote. The USDollar Index (DXY) picks up bids to 92.88, up 0.06% during the four-day uptrend, near a three-month high by the press time. In addition to the virus woes, pause in the US Treasury yields’ consolidation near February lows seems to favor the DXY bulls of late.

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