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EURUSD Under Pressure as DXY gains strength

EURUSD Under Pressure as DXY gains strength

EUR speculative net longs retreated to the lowest level since December 19 2017 on the week to June 12, according to the latest CFTC report.

On the USD-side, renewed tensions on the US-China front following US tariffs and Chinese retaliatory measures appear to have removed some tailwinds from the recent upbeat momentum in the buck.

No important data flow ahead, technicals will be on the stage.

Key Levels:

1.15350 MM 1/8 Weak Stall Reverse is the first target of the pair.

1.15300 – 1.15100 appears to be the last demand zone. I do not think the support will work again.

1.14800 is the key level. EURO Bulls is likely to think twice at 1.14800.

We will keep selling with the target 1.14800. ( Fibo 78.6 % Extension )


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