The EUR/USD The fourth week of August has started under strong downward pressure, just as the previous one ended. Since the start of Monday, the pair has lost more than 55 pips, falling in the early hours of the European session to its lowest price in five and a half weeks, 0.9989.
The strength of the dollar amid a persistent climate of risk aversion is dominating the markets. The DXY index which measures the greenback today reached the level of 108.46, its highest level since last July 14.
Traders will be aware today of the perception of risk, since the economic calendar offers little data of interest. The Bundesbank will release its monthly report at 10:00 GMT, while the US will release its Chicago Fed National Activity Index for the month of July at 12:30 GMT.
EUR/USD Levels
With EUR/USD trading at time of writing above 1.0009, shedding 0.29% daily, the key support appears at 0.9952, minimum of July 14 and of the last two decades. If broken, the pair could sink lower in the direction of 0.9860floor of December 2002.
On the upside, the first level of resistance stands at 1.0095, maximum of August 19. After level 1.0100, the next barrier is in the area 1.0200where is the ceiling of August 17.
Source: Fx Street
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