EURUSD is trading under pressure this week as US yields continue to rise and support USD. US 10-year yield has reached 1.3% and has more than doubled during the previous 6 months. EURUSD was moving higher in the first half of February but advance was halted at the resistance zone marked by 50% retracement of January's drop (1.2150). The main currency pair is making a drop below the 1.2080 support and is approaching a short-term support zone ranging between 23.6% retracement and 1.2060 handle. The pair may experience elevated volatility today at 1:30 pm GMT and 7:00 pm GMT, when US retail sales data and FOMC minutes are released.
Source: xStation5
