Forex
Yield Volatility Tests USD/CAD, EUR/USD, and Platinum Support
The U.S. 10-year yield has been stuck in a narrow range of 4.60%-4.75%, keeping risk appetite sensitive and the dollar on edge for another potential surge.
This environment is affecting various currency pairs, including USD/CAD and EUR/USD. The former is testing support at its 200-day EMA within the 50%-61.8% Fibonacci retracement zone, with a break higher targeting 1.3950. On the other hand, EUR/USD is facing supply around 1.16-1.1650.
In addition to currencies, the metal platinum is also being impacted by the current yield landscape. Its well-defined range suggests a potential bullish bounce from support for this asset.