EUR/USD touches a low of 1.1595 on the day
There's no stopping the dollar train today as it would seem. Buyers are looking poised for the dollar index to test the 95.53 resistance level at this stage. EUR/USD falls below the 1.1600 handle now with GBP/USD also back below the 1.3000 level after having earlier retraced some losses from the retail sales report.
Everything is lower across the board now with AUD/USD and NZD/USD also at session lows of 0.7345 and 0.6730 currently. Meanwhile, USD/CAD is up to a high of 1.3241 and USD/JPY also touches a high of 113.07 on the day.
As for EUR/USD, the next support level is seen @ 1.1589 in the form of the 23.6 retracement level but I reckon all this will count for little if dollar bulls find a way to break above the 95.53 level in the dollar index. Below there, further support is seen around 1.1530-40 before the 1.1500-10 handle is seen again.
But all eyes are now on this:
