Forex
Yield Squeeze Tightens Grip on USD/CAD, EUR/USD, and Platinum
The US 10-year yield remains in a tight range of 4.60%-4.75%, which has investors on high alert for any signs of a renewed spike. This sensitivity to yields is affecting major currency pairs, including USD/CAD and EUR/USD.
On the technical front, USD/CAD is testing its 200-day EMA within the 50%-61.8% Fibonacci retracement zone. A break above this level could put the 1.3950 price target in focus for bullish traders.
EUR/USD, on the other hand, is facing resistance around 1.16-1.1650, which may limit its upside potential in the near term.
Meanwhile, platinum's price action suggests a well-defined range, with support levels that could trigger a tactical bullish bounce.