EUR/USD extends the decline to the 1.0050/45 band.Next on the downside appears a potential test of the parity zone.EUR/USD adds to the recent weakness and extends the breach of the 1.0100 level at the end of the week.
Further losses appear on the cards as well as a probable visit to the parity level in the short-term horizon. The loss of this key support zone could expose a deeper retracement to the YTD low at 0.9952 (July 14).
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0859.
EUR/USD has extended its daily slide during the American trading hours and touched its lowest level in a month below 1.0050. In the absence of macroeconomic data releases, the dollar capitalizes on safe-haven flows and continues to outperform its major rivals.To
GBP/USD tests 1.1800 as dollar rally continues
Following a short-lasting recovery attempt, GBP/USD turned south and fell to the 1.1800 area. Reflecting the unabated dollar strength amid risk aversion, the US Dollar Index advanced to its strongest level in a month above 108.00 in the American session.
Gold stays on the back foot, trades near $1,750
Gold continued to push higher in the second half of the day and touched its lowest level since late July below $1,750. The benchmark 10-year US Treasury bond yield is up more than 3% on a daily basis, not allowing XAU/USD to stage a rebound.