Euro Drops On Dollar Strength


EURUSD is down over 0.70% intraday. The declines come as the USD is strengthening for the second consecutive day.

Following yesterday’s pullback from the initial decline to 1.0860, the price level near 1.1055 held up amid selling pressure.

This saw the euro currency reversing direction posting a steep fall.

The lower support area near 1.0787 will most likely be tested as support once again.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

Leave a Reply