- EUR/USD is down for yet another session amidst a continuation of the rally in the buck, all sustained by escalating trade concerns and prospects of further tightening by the Federal Reserve.
- Spot is so far flirting with the 21-day SMA in the mid-1.1500s, trading closer to the key 1.1500 area.
- While the 1.1508 level holds, a test of the 1.1745/50 band still remains on the cards.
- However, the loss of the 1.1500 neighbourhood should trigger a potential visit to YTD lows in sub-1.1300 levels.
Daily high: 1.1565
Daily low: 1.1525
Support Levels
S1: 1.1519
S2: 1.1485
S3: 1.1420
Resistance Levels
R1: 1.1619
R2: 1.1684
R3: 1.1718
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