EUR/USD hits fresh lows below 1.1380

• US dollar strengthens during US session despite lower US yields. 
• Euro drops further versus the Swiss franc and the Pound. 

The EUR/USD dropped further during the US session on the back of a stronger US dollar. Also, the euro is falling against its mains European rivals. 

The pair bottomed at 1.1374, the lowest level since January 25. It remains near the lows with the bearish bias intact. During the last five trading days, it lost ground in four, making a sharp reversal after being rejected from above 1.1500. 

The US Dollar Index is rising further despite lower US bond yield. The DXY broke above 96.00 and hit at 96.26, the highest level in over a week. While the euro is also lower against the Swiss franc and the pound. The common currency continues to correct lower against those currencies after reaching yesterday weekly highs.  

EU Juncker mentioned he can not accept the idea of reopening the Brexit deal. Tomorrow he will meet with UK PM May. 

EUR/USD Short-term levels to watch 

Yesterday the EUR/USD pair closed below the 20-day moving average and today dropped under the 50-day MA that stands at 1.1390.

To the downside, support levels might be seen at 1.1370, 1.1350 (Jan 23 low) and 1.1350. On the upside, 1.1395 (20-hour moving average) is the immediate resistance and above 1.1410 and 1.1440 (Feb 5 high).