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EUR / USD extends decline to 1.1760 zone amid dollar strength

  • The dollar advanced on all fronts Thursday, ahead of US data.
  • The euro also falls against the pound and the yen.
  • EUR / USD next support looms at 1.1750

The EUR / USD is falling sharply on Thursday and extended the decline to 1.1761, the lowest level since August 27.. The pair remains under pressure, near the lows, with a strong dollar throughout the market.

EUR / USD weakness intensified with the break below 1.1800, taking away the 1.1780 support with ease. Should the pullback extend, the next major barrier looms at 1.1750. A return just above 1.1795 could ease the downward pressure.

The The decline was the main factor behind a stronger dollar on all fronts. The dollar index rose 0.32% on Thursday and Treasury bond yields validated Wednesday’s rebound.

The appreciation of the dollar on Thursday comes before the publication of important data, among which the report of retail sales, the Philly Fed and the report of requests for unemployment benefits stand out. Economic figures on Wednesday showed a good pace of activity in factories and was the beginning of the rise in the dollar.

Technical levels

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