EUR/USD falls to a low of 1.1698 on the day
The greenback is making a push higher across the board and we're now seeing EUR/USD fall below the 1.1700 handle once again as it did in trading yesterday. The low posted yesterday was at 1.1691 which coincides with the 200-hour MA (blue line) currently, so that will be a key support level to look out for in the pair.
If sellers find a way to move below the 200-hour MA, it would turn near-term bias more bearish and that opens up incentive for price to head lower. But sitting nearby is the 50.0 retracement level @ 1.1680 so bids are also lined up there for added support. For sellers, those two levels will need to be broken to justify a further move lower now.
As for buyers, it's all about holding on to the levels mentioned above. A test of the 1.1700 handle now is one of the more crucial points as well with yesterday's move below failing to post any hourly closes below the figure level.
The dollar is once again building up momentum, but key resistance levels lie nearby as well in the dollar index. The move here isn't to do with risk-off tones in case you're wondering. It's all dollar strength so keep an eye on the dollar index levels for clues as well.