Today, traders also focused on the Existing Home Sales report. The report showed that Existing Home Sales decreased by -2.4% month-over-month in June, compared to analyst consensus of +0.7%.
Oil prices pulled back by -4% despite escalation in the Middle East. Falling oil prices put pressure on the American currency as demand for safe-haven assets declined.
In case U.S. Dollar Index settles below the 100.80 level, it will head towards the support at 100.50 – 100.65. On the upside, a successful test of the resistance at 101.15 – 101.30 will open the way to the test of the next resistance level at 101.80 – 101.95.
EUR/USD Tests Resistance At 1.1420 – 1.1435
Source: Original Article
