EUR/USD touches a low of 1.1635 on the day
The dollar is continuing its upside momentum on the day, with bids across the board to trade at session highs against almost all the major currencies right now. EUR/USD is down to 1.1635 with GBP/USD touching a low of 1.3095 on the day.
Meanwhile, USD/JPY has reclaimed the 113.00 handle while the rest of the commodity currencies are also at the lows on the day against the greenback.
Dollar bulls are still in control and this looks more of a technical run more than anything else, with a test of the resistance "air pocket" highlighted earlier being eyed once again.
As for EUR/USD, the pair looks to fall towards a test of the 1.1618 support level (which stalled the 13 July decline) next should buyers hold a break below 1.1640.
Do take note that there are large expiries around 1.1610 and 1.1625 which may anchor the pair and provide a bit of a base in trading today. However, given the context of the situation, it's going to be all about the dollar right now and whether or not this is a return to the upside, or yet another rejection.
