EURUSD break below its next target 1.13698
The EURUSD has made yet another new low for the day. The process the low to high trading range is up to 102 pips. The average is 62 pips. At the start of the North American session the low to high range is only 27 pips. The next major target on further weakness comes in at the lower trendline at 1.1311. Below that is the 61.8% retracement of the move up from the March 2020 low at 1.12876.
Looking at the DXY index (dollar index), the price is trading at its highest level since July 21, 2020. It's next target comes in at the 50% midpoint of the move down from the March 2020 high which cuts across at 96.094. See chart below.
The US dollar is making new US session highs vs the EUR, GBP, JPY, CHF, and AUD. Although off it's lows, the dollar is still lower on the day vs the CAD, and AUD.
