EUR/USD outlook: Euro slips on fresh dollar's strength
|EUR/USD
The Euro lost ground and fell in early Tuesday’s trading as dollar regained traction in holiday-thinned Asian session.
Traders focus on key US economic data this week for more hints about US monetary policy as accelerating economy may set scene for a rate hike.
Fresh weakness retraced Monday’s gains and pressuring again psychological 1.20 support which guards next pivotal points at 1.1979/77 (Fibo 38.2% of 1.1704/1.2149/daily cloud top), loss of which would add to reversal signals and risk deeper fall.
Bull-trap above 1.2102 barrier ( Fibo 61.8% of 1.2349/1.1704/bear-trendline off 1.2349 peak) continues to weigh, as south-heading 14-d momentum on daily chart is approaching negative territory and supporting fresh weakness.
Res: 1.2026; 1.2051; 1.2075; 1.2097.
Sup: 1.2000; 1.1979; 1.1964; 1.1940.
Interested in EUR/USD technicals? Check out the key levels
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